Price of Brent crude exceeds $40 per barrel
June 04, 2020 | 08:36 |3197
The price of Brent crude oil exceeded the barrier of $40 a barrel for the first time since March 6, when slump of oil prices have been seen. It is reported the price of Brent oil futures for August increased by 03.44 Moscow time, by 1.14 % to 40.08 dollars per barrel, while futures contracts for WTI crude oil for July rose by 1.96 % to 37.53 dollars per barrel, by 03.46 Moscow time. Fluctuation of oil prices started on March 6, 2020, when OPEC+ countries could not agree to extend oil output cuts. Russia refused to lower its output by 1.5 million barrels per day in the second quarter of 2020. The next, after the failure of the deal of OPEC+ limiting production, oil prices collapsed to $30 per barrel.
