On Friday, oil prices rose sharply after OPEC members agreed on an increase in production. By 18:43 Moscow time, August futures for Brent crude oil rose by 1 dollar 49 cents to 74 dollars 54 cents a barrel. The price of August futures for WTI crude oil rose by 2 dollars 57 cents to 68 dollars 11 cents a barrel. Saudi Energy Minister Khalid al-Falih told reporters that OPEC members agreed on an overall increase in oil production by 1 million barrels per day. However, according to him, the actual increase in production will be lower taking into account the problems in a number of OPEC countries. Dow Jones writes that, according to experts, the potential shortage of oil in the world market will be 1 million 800 thousand barrels per day, so do not expect an excess due to the planned OPEC increase in production.
Gold prices move closer to $1,800 as COVID-19 cases surpasses 10 million worldwide26.06.2020
Stocks and oil gain despite rising coronavirus cases26.06.2020
Oil prices climb in light of demand recovery optimism despite coronavirus fears25.06.2020
Oil falls due to U.S. crude stock build, virus fears