Oil prices are falling on Monday, reaching $74.15 a barrel, although a couple of days earlier prices were hovering around $76.20. The price of «black gold» is declining in anticipation of the OPEC + meeting, scheduled for July 1. Within the framework of the meeting, the alliance intends to make a decision on further oil production, but analysts believe that the meeting may bring surprises. Already last week, OPEC + began discussing the reduction of production restrictions in August by 500 thousand barrels per day at once, which is 100 thousand more than previously assumed. The timing of lifting the restrictions may be affected by the data on the super-profits of the shale companies. At the same time, concerns about the demand for raw materials are caused by news about the spread of a new strain of the delta coronavirus in Europe. Analysts note that the forecast for a recovery in oil demand over the summer may be slightly overestimated.
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