Oil prices decreased moderately

On Tuesday, oil prices declined moderately on reports of an increase in production in Russia and amid lower fears concerning Iranian oil. As a source familiar with statistics told Interfax, in July, Russia produced 1 million 530 thousand tons of oil per day, which is 269,000 barrels per day above the quota of the OPEC + deal. JTD Energy Chief Strategist John Driscoll noted that the statement of US President Donald Trump regarding his willingness to meet with Iranian President Hassan Rouhani at any time and without preconditions also creates downward pressure on the oil market. On Tuesday at 13:58 Moscow time, September futures for Brent crude fell 14 cents to 74 dollars 83 cents a barrel. The price of September futures for WTI crude oil fell by 44 cents to 69 dollars 69 cents per barrel.

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