The price of oil exceeded $ 78 per barrel

Oil prices for benchmark brands continue to grow during Asian offerings, thanks to data from the American Petroleum Institute (API) on the sharp decline in US fuel stocks. Initially, the upward momentum of oil prices gave the Force Majeure in Libya . At the same time, the growth of oil production in Saudi Arabia and Russia limits the increase in the value of the black gold

Thus, the price of the September futures for Brent oil at the London Stock Exchange ICE Futures at 9:34 Kiev time increases to 78.06 dollars a barrel.

The WTI August petroleum deal on e-commerce of the New York Mercantile Exchange (NYMEX) amounted to $ 74.47 a barrel.

[19659006] According to the API, oil reserves in the United States fell by 4.5 million barrels a week during the week ending June 29, according to analysts was led to a smaller reduction – of 3,267 million barrels, writes OilPrice. A week earlier, API reported a reduction in reserves of nearly 9.23 million barrels, while the US Department of Energy – 9.89 million barrels. At the same time, gas reserves fell last week three times stronger than expected – by 3.1 million barrels. Distillate stocks dropped by 438,000 barrels instead of 633,000 barrels

Analysts surveyed by S & P Global Platts predict a drop in oil reserves of 4.5 million barrels, gasoline – 2 , 5 million barrels, distillates – at 250,000 barrels

The Emirates Abu Dhabi (OUA) announced that it was preparing to increase its oil production to a level consistent with the June agreements of OPEC +, reports Bloomberg. Saudi Arabia has also confirmed its willingness to use unused capacity to increase oil supply on the world market, reports Al Arabiya. Meanwhile, analysts discuss the growth of oil production in the kingdom

" We expect Saudi Arabia to increase production to about 10.8 million barrels a day in July, which will be a new record ", – predict the analysts of JBC Energy.

At the OPEC + meeting in Vienna on June 22 and 23, the black gold exporters agreed to raise an additional one million barrels a day . This decision was considered a compromise.