Oil prices fell to a seven-month low

Baku. 20 June. REPORT.AZ/ Today, on international exchanges, price for Brent fell back to $ 45.9 per barrel, a seven-month low.

Report informs referring to Bloomberg, reason lies in the increase in oil production in Libya and the growth of oil reserves in floating oil storage. Thus, the largest German oil and gas company Wintershall AG resumed production at least two oil fields in Libya. In addition, according to French company Kpler SAS, volume of oil stored in tankers reached a maximum of 2017 at 111.9 million barrels.

All this suggests that the oil market is hard to restore balance, so Brent began to fall in price. Today, oil is sold at 2.1% cheaper compared to yesterday.

Analyst Group of Report News Agency believes, Brent will first fall in price to $ 44/barrel, and later can roll back to $ 42/barrel.