Oil prices fell by over 2%
On 14 July 2020 (07:53, Moscow time), Brent Crude Oil futures price fell by 2.13% to $41.81 per barrel, Light (WTI) for August delivery dropped by 2.39% to $39.14 per barrel.
On 12 April 2020, OPEC+ approved new oil output cut by 9.7 million bpd in May-June, 7.7 million bpd in the second half and 5.8 million bpd by May 2022.
On 6 June 2020, OPEC+ agreed to extend oil-production cuts by 9.7 million bpd till the end of July.