2020 October 22 09:36

Oil prices continue decreasing in response to growing US reserves

Oil prices fell by 0.6%-0.7%

As of October 22 (08:07 Moscow time), Brent Crude futures for December delivery fell by 0.6% to $41.49 per barrel on the London-based ICE Futures Europe Exchange.

Light Sweet Crude (WTI) futures for December delivery on the New York Mercantile Exchange fell by 0.7% to $39.75 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.