Oil prices stabilized after a sharp fall a day earlier

Oil prices stabilized on Tuesday after the collapse the day before. September futures for Brent crude by 15:01 Moscow time fell by 5 cents to 71 dollars 79 cents per barrel. The price of August futures for WTI oil by this time fell by 8 cents to 67 dollars 98 cents per barrel. Traders assessed the increase in production in Libya, the increase in exports by Iraq and the potential use of part of the strategic reserve of US oil. According to Bloomberg, Libya increased its production to 650,000 - 700,000 barrels a day and plans to increase it further. In the first half of June, oil exports of Iraq reached a record 4 million 50 thousand barrels per day from November 2016. Iran hopes to continue to supply oil thanks to measures taken by a number of countries seeking to preserve the Iranian nuclear agreement.

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