The price of Brent crude oil fell almost 2.5 percent to 43,76 USD per barrel during the trading session on July 27, according to the London commodity exchange ICE. American brand WTI fell by two percent to 42.05 dollars.
Prices fall after the publication of data on commercial oil reserves in the United States. The energy information administration of the United States reported that last week, the reserves increased by 1.7 million barrels.
July 25, analysts at investment Bank Morgan Stanley said oil prices until mid-2017, will be limited in growth, but then can increase to $ 70-80 per barrel.
On 21 July it was reported that Russian oil production in may rose to 10.46 million barrels per day, thereby overtaking production in Saudi Arabia.
In the first half of July, the OPEC countries, including Saudi Arabia increased its oil production to its highest level since 2008. The cartel produces of 32.73 million barrels a day.
