2020 August 24 09:58

Crude oil prices decline

Oil prices fell by 0.11-0.24%

As of August 24 (08:20 Moscow time), Brent Crude futures price fell by 0.11% to $44.3 per barrel on the London-based ICE Futures Europe Exchange.

Light Sweet Crude (WTI) futures for September delivery on the New York Mercantile Exchange fell by 0.24% to $42.24 per barrel.

OPEC+ approved on April 12, 2020, 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.

Then on June 6, 2020 the organization agreed to extend oil production curbs by 9.7 million bpd till the end of July.