High oil prices despite OPEC+ supplies

Oil prices rose after raising geopolitical and commercial risks during the weekend, and after OPEC+ production increased by less than people feared. Brent ruol raised the delivery from August to about $ 65 a barrel after falling 2.2% last week, while the West Texas intermediate crude exceeded $ 62. Ukraine targeted the air base deep in Russia, and Iran criticized a report that would increase the growing inventory of enriched uranium and President Donald Trump in commercial ways. Meanwhile, the Organization of Petroleum Exporting Countries (OPEC) and its allies agreed on Saturday to add 411 thousand barrels per day of supplies in July. The decision to suit the increases for May and June and June was in line with the expectation, but it violated the reports issued late last week, stating that the group is considering the production at a larger pace. Oil prices are disturbed by Trump’s wars. The rise in oil prices is coming to two months on Monday, and they saw the low prices to their lowest level in four years in the aftermath of Trump’s Customs Wars, before some of these losses were compensated. Crude oil has been almost 15% since the beginning of the year, under the pressure of furious trade conflicts, and OPEC+ abandons its previous strategy to defend the prices that were high by limiting production. OPEC+ officials said the raising of the shares coincides with the desire of Saudi Arabia to punish members who produce excessive quantities such as Kazakhstan and Iraq. Some members – including Russia, Algeria and the Sultanate of Oman – have demanded a break. The group meets on July 6 to discuss production levels for August. ” Brent ruol is expected to have good support in the middle of our expected prices during the summer between $ 60 and $ 65, until we achieve a better understanding of the scope of the OPEC real high production. “He added:” We can see indications that the increase in the increase in the coming months could slow down, “as some members wanted to calm the rate of the shares. Brent -Ru rose by 2.6% August to $ 64.44 at 10:51 p.m.