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Oil prices fell marginally amid expectations of reduced demand
Energy
- 04 August, 2022
- 07:00
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World oil prices fell slightly on Thursday morning, Report informs.
The price of Brent crude September futures fell by 0.22% to $96.57 per barrel, and WTI August futures dropped by 0.04% to $90.63.
The decline in quotes is because investors continue to assess the factors leading to a reduction in demand for this type of raw material, as a recession in the global economy remains possible and China continues to impose restrictions due to COVID-19.
Besides, the results of yesterday's OPEC + meeting also affect the markets. The alliance approved an increase in oil production by only 100,000 barrels per day.
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