August futures for WTI crude oil fell by 0.42%.
The economy will suffer from a global recession and local efforts to contain the pandemic.
Oil production amounted to 1.297 million bpd in June.
Back in May, this figure was at the level of 6.2 million bpd.
For example, Iraq failed to fulfill a 46% reduction.
The cost of August futures rose by $0.34.