Brent rose to $29 per barrel

The cost of July Brent oil futures on the London ICE Futures exchange by 8:02 Kyiv time is $29.89 per barrel. It is reported by Interfax-Ukraine.

Price rose by $0.17 (0.57%) compared to the previous session.

Futures for WTI oil in June in electronic trading on the New York Mercantile Exchange (NYMEX) by this time rose in price by $0.2 (0.83%) to $24.19 per barrel.

Commonwealth Bank of Australia experts still hope that Brent prices can recover to $38-39 per barrel by the end of the year.

The American Petroleum Institute (API) released data on Tuesday, according to which, oil reserves in the US in the week ended May 1, grew by 8.4 million barrels. Gasoline reserves decreased by 2.2 million barrels.

Recall that during April 2020 the number of drilling rigs for oil and gas production in the world decreased by 450 units compared to March.

It was previously reported that Saudi Arabian crude oil tankers had begun arriving on the U.S. Gulf of Mexico, US oil shale producers were worried.

Tags: contracts, oil, hydrocarbon production, USA, добыча нефти, drilling, коронавирус, foreign affairs, ОПЕК+, OPEC, negotiations, price, agreement, volumes, oil products, oil deliveries, gasoline, auctions, infrastructure, quarantine, Brent, WTI, pandemia, Saudi Arabia, COVID-19, decline in production, oil companies, oil reserves

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