Crude futures prices edge down
As of August 3, 08:39 (UTC+3), Brent Crude futures price were trading 0.58% lower to settle at $ 43,40 a barrel on the London-based ICE Futures Europe Exchange.
Light Sweet Crude (WTI) futures for September delivery on the New York Mercantile Exchange declined 0.52% to close at $ 40,06 a 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.