OPEC states increased oil production in May 2017, which was noted for the first time since October last year, according to a poll conducted by S & P Global Platts.Oil production by cartel countries increased last month by 270 thousand barrels per day (b / d) compared to April - up to 32.12 million b / d.The increase in oil production is due to the sharp increase in production volumes of Libya and Nigeria, exempt from participation in the agreement on limiting production, according to a review by S & P Global Platts.
Oil rose yesterday. According to forecasts, oil reserves in the United States will decrease by the results of the 9th week in a row - by 3.5 million barrels. Nevertheless, the enthusiasm of investors related to the continued decline in US stocks is offset by fears that oil production in the country will continue to grow.
As a result of trades on June 6, the value of the August contract for Brent crude on the ICE Futures exchange in London increased by $ 0.65 (1.3%) to $ 50.12 per barrel.
July futures for WTI on the New York Mercantile Exchange NYMEX increased by $ 0.79 (1.7%) - to $ 48.19 per barrel.
Today, oil is becoming less expensive.
August futures for Brent crude on the London Stock Exchange fell by 6 cents (0.1%) - to $ 50.06 per barrel.
Quotes of the June contract for WTI oil decreased by 7 cents (0.15%) - to $ 48.12 per barrel.

The US dollar fell against all other major currencies, but most of the drop fell to USD / JPY. USD / JPY focuses on the spread between the yields of ten-year US and Japanese government bonds, which fell to the lowest level in two weeks. Since the currency pair is trading below the simple moving average for 100 days and the key level at 110, everyone thinks about how much it can still fall.
Euro yesterday rose in price due to good data from the euro zone and the fall of the US dollar.
The pound in the meantime could not strengthen during the North American trading session.
All three commodity currencies rose in price yesterday, with the New Zealand dollar showing better results. NZD would have strengthened even more if not for the sluggish rise in prices for dairy products. Although prices rose sixth consecutive auction, yesterday's increase of 0.6% was the smallest since March 7. The slowdown in prices has not yet affected the commodity price index, which rose by 3.2% in May from -0.2% in April. This morning it also became known that the number of vacancies in New Zealand increased by 0.4% in May after an increase of 1.5% a month earlier, while sales in the manufacturing sector fell by 0.3% in the first quarter after a decrease of 1, 8% in the fourth quarter of last year.
Despite a significantly lower than the expected index of economic activity from Ivey, the Canadian dollar strengthened yesterday against the US dollar.