Brent is trading above $ 40. a barrel

KIEV. June 9. UNN. Futures for Brent crude with August delivery on Tuesday morning in the course of trading rose in price up to 40,83 USD per barrel, reports UNN with reference to Bloomberg data.

According to the newspaper as of 8:20, the price of futures for Brent oil rose by 0.07%.

The price of July futures on WTI increased to 38.33 dollars per barrel, up 0.37 percent.

Recall that the global oil market March 9, survived “black Monday” – the largest sharp drop in prices since 1991 when the war in the Persian Gulf. After that, the oil market has been a number of collapses of prices on the background of the situation with coronavirus and restrictions due to pandemic in the largest economies of the world, leaving a market overwhelmed by a sharp decrease in demand and an excessive oversupply of crude oil.

April 12 member countries of OPEC+, including Russia, agreed to cut oil production in a pandemic. The ultimate decline in production would be 9.7 million barrels per day, the agreement entered into force in may.

OPEC predicts oil prices at 40 dollars per barrel in the second half of the year.