The cost of Brent crude during trading on London exchange ICE fell below $ 42 per barrel. As of 19:50 MSK barrel of standard grade was worth 41.7 per dollar, it fell more than a cent, compared to the end of session on 1 August.
The price of U.S. WTI fell by 1.5 percent to 39.45 percent. Oil OPEC basket is 39,10 dollar.
August 1 national oil Corporation of Libya announced that it plans in the next two weeks to increase oil production from the current 400 thousand barrels per day to 550 thousand, and by the end of the year to increase this figure up to 900 thousand barrels.
A day earlier, the Saudi state oil company Saudi Aramco announced that consumers from Asia will receive a discount of 10 percent on the mix of Arab Light.
July 28, analysts at Bank of America made a return of oil prices to around 35-40 dollars a barrel. Conditions this fall called global recession or a major shock event, which will lead to a sharp increase of supply on the market. One such event the Bank believes a full load of production capacity in Libya.
