The Price Of Oil Is Weakly Reduced On Risks Of Lower Demand
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World oil prices on Thursday morning are slightly declining; investors assess prospects for a reduction in global demand
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As of 9:05 Moscow time, the price of September futures for Brent crude oil is falling by 0.22%, to $96.57 per barrel
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August futures for WTI - by 0.04%, to $90.63, Oil quotes are slightly lower on Thursday morning
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On the eve of these factors added to the negative impact on quotes had statistics of oil reserves in the US
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The week ended July 29 rose by 4.5 million barrels, or 1.1%, to 426.6 million barrels
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Today, oil prices are being held back by the effect of yesterday's OPEC+ meeting, according to which alliance approved
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An increase in oil production by only 100,000 barrels per day
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While oil prices supported by slight increase in OPEC's production quota, they trending lower due to poor macroeconomic data, especially from China, as well as rising U.S. crude inventories
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As a recession in the global economy remains possible and covid restrictions in China continue