Brent price drops below $43 per barrel

August futures for WTI crude oil fell by 0.42%.

Oil price crash causes major recession In Russia

The economy will suffer from a global recession and local efforts to contain the pandemic.

Kazakhstan exceeded its obligations to reduce production under the OPEC+ deal in June

Oil production amounted to 1.297 million bpd in June.

Saudi oil exports fell below 6 million bpd in June

Back in May, this figure was at the level of 6.2 million bpd.

OPEC+ countries that have not fulfilled their obligations have submitted terms of compensation for production

For example, Iraq failed to fulfill a 46% reduction.

Brent oil prices at nearly $42 per barrel

The cost of August futures rose by $0.34.