Oil prices have today changed slightly after yesterday's significant rise, Report informs.
As of 7:20 p.m. (GMT +4), the Brent crude futures for August settled down 8 cents to $71.29 a barrel, while the WTI futures for July rose 32 cents to $69.05 a barrel.
Experts say the demand in the oil market will exceed the supply in the second half of this year. According to OPEC +, daily demand for crude oil is expected at 99.8 million barrels, and supply at 97.5 million barrels. The main factor in this shortage is the growing demand in the United States and China, the world's largest oil consumers, as well as in the United Kingdom, where quarantine measures are gradually disappearing.
According to official data, US oil inventories fell by more than 5.080 million barrels last week, while American Petroleum Institute (API) says this figure was more than 5 million barrels.