Oil getting slightly cheaper in anticipation of news from OPEC+

Global oil prices fell slightly on July 5 morning in anticipation of the third round of OPEC+ talks on the fate of the production cut agreement, Report informs referring to Prime agency.

As of 8:39 (GMT+4), the price of September futures for the North Sea Brent oil blend decreased by 0.13 percent to $76.07, the price of August futures for WTI oil fell by 0.12 percent to $75.07 per barrel.

OPEC+ on July 5 will make its third attempt to agree on the future of the deal. The previous two meetings on July 1 and July 2 ended in vain.

The media reported that the OPEC+ ministerial monitoring committee recommended that the alliance increase production from August through December monthly by 400,000 barrels per day and extend the total term of the agreement, which is now limited to the end of April, until the end of 2022.