World oil prices on Thursday, April 27, demonstrate a negative trend on investors' fears of an overabundance of reserves in the world, despite the information on a fairly significant reduction in the US in the previous working week,.

As of 8:22, the price of July futures for the North Sea oil blend of Brent brand decreased by 0.38% - to 52.21 dollars per barrel. The price of June futures for WTI crude oil fell by 0.50% - to 49.36 dollars per barrel.

"It is clear that the world has a large amount of oil reserves, which makes OPEC life much more difficult on the threshold of the date of the possible prolongation of the agreement on production cuts in June," - quotes Reuters agency, senior analyst of the OANDA market Jeffrey Halli.

Restricting the cheapening of "black gold" and published on Wednesday the data of the US Department of Energy. So, for the week ended April 21, commercial oil reserves in the country fell by 3.6 million barrels, or by 0.7% - to 528.7 million barrels. At the same time, analysts expected a more modest decline in indicators - only by 1.3 million barrels, or by 0.24% - to 531 million barrels.

OPEC countries agreed on reducing oil production after a year of disputes. From January 1, 2017, they will reduce oil production by 1.2 million barrels a day - up to 32.5 million. At the same time, the agreement presupposes participation of countries outside the cartel. It is designed for six months with the possibility of extending for another six months.

Meanwhile, countries that are not part of OPEC agreed to cut oil production by 600,000 barrels per day. It was reported that half of this amount falls to Russia.