Oil prices continue to decline

The market is under pressure from the deteriorating prospects for the global economic recovery.

Brent crude is trading above $43 per barrel

Fears for a recovery in demand continue to put pressure on market participants.

OPEC+ does not plan to further reduce oil production due to falling prices

The alliance is likely to extend the compensation period to October and November.

Oil continues to trade below $40 per barrel

Last week, Brent fell by 6.6%, WTI – 6.1%.

The United States reduced oil imports from Saudi Arabia by almost 50%

This was the minimum for at least the previous 10 years.

Brent fell to $42 per barrel

Saudi Aramco will cut prices for all grades of oil for buyers from Asia and the United States in October.

Oil prices in March-July 2020: record highs

The situation with oil prices has not demonstrated stability over the past 4 months.