Oil prices fell marginally amid expectations of reduced demand

World oil prices fell slightly on Thursday morning, Report informs.

The price of Brent crude September futures fell by 0.22% to $96.57 per barrel, and WTI August futures dropped by 0.04% to $90.63.

The decline in quotes is because investors continue to assess the factors leading to a reduction in demand for this type of raw material, as a recession in the global economy remains possible and China continues to impose restrictions due to COVID-19.

Besides, the results of yesterday's OPEC + meeting also affect the markets. The alliance approved an increase in oil production by only 100,000 barrels per day.