Brent crude fell to $48 a barrel on data on growth in OPEC production

Moscow. On 13 June. INTERFAX.RU – oil Prices moved to lower on Tuesday after the release of the report, reporting the growth of fuel production in OPEC countries. The August futures for Brent crude on London’s ICE Futures exchange by 18:20 MSK fell $0.3 (0,62%) – to $of 47.99 per barrel.

Quotes of WTI oil futures for July in trading on the new York Mercantile exchange (NYMEX) by specified time has decreased by $0,37 (0,8%) to $45,71 per barrel. According to OPEC, the production cartel in may rose to 32,139 million barrels per day compared with 31,803 million b/d in April 2017. Oil production has increased in all OPEC countries, except Angola, Gabon, UAE and Venezuela, the document says.

OPEC has kept the forecast of global oil demand in 2017 at the level 96,38 million barrels per day.

Meanwhile on Wednesday, on Wednesday at 17:30 GMT will be published data on the fuel reserves in the United States. According to experts ‘ expectations, a report of the energy Ministry will show a decrease of oil reserves by the end of last week to 2.25 million barrels after an unexpected rise last week.

As noted by senior economist BP Plc Spencer Dale, the rate of decline of reserves accelerates in the second half. Earlier analysts of the consulting company Energy Aspects has lowered the price forecast for Brent crude in 2017 from $59 to $56 per barrel.