According to media reports, the data of oil logistics consulting company at that day indicated that crude oil production of the Organization of Petroleum Exporting Countries (OPEC) on July is expected to increase 145 thousand barrels to 33 million barrels. The news shows OPEC's decline in its implementation rate of the agreement of production reduction, which causes that oil prices were in down trend under the pressure.
By the end of the closing day, the New York Mercantile Exchange The futures price of light crude oil delivering in September fell by $ 1.15 and closed at $ 45.77 a barrel with a decrease of 2.45%. The futures price of London Brent crude oil delivering in September fell by $ 1.24 and closed at $ 48.06 a barrel with a decrease of 2.52%.
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