Oil fell below $ 46

Нефть упала ниже 46 долларов

The market fears production growth in the United States, Libya and Nigeria.

Oil prices reference marks on Wednesday, June 21, continued weak decline after a drop of about 2% in the previous trading session.

So, the August futures for Brent crude on the London ICE Futures exchange to 8.06 in Kiev fell by 0.13% to $ 45.96 a barrel.

Quotes of WTI oil futures for August in electronic trading on the new York Mercantile exchange (NYMEX) on Wednesday morning declined 0.02% to 43.5 dollars per barrel.

Increasing production in the United States, Libya and Nigeria undermines OPEC+ to reduce the world’s oil reserves, which puts constant downward pressure on the global market, experts say.

At the same time, the action of China suggests that the country will increase imports of oil. In 2016, China’s average imported 7.7 million barrels per day, analysts believe that this year the figure will be higher.

We will remind, on may 25 at a meeting in Vienna, OPEC members agreed to extend the agreement to reduce oil production in the nine months to the end of the first quarter of 2018.

According to the materials:

Interfax,
RBC
Source