Major banks lose faith in oil price return

"The fundamental mood surrounding the oil price has taken a turn for the worse," says French major bank BNP Paribas.
Photo: /ritzau/Magnus Holm
Photo: /ritzau/Magnus Holm

The oil price declined Tuesday after rumors that Saudi Arabia increased its production significantly in June. In an interview with Bloomberg, a source with access to Saudi Arabia's production figures stated that the country pumped 10.07 million barrels of oil from the underground in June against 9.88 million in May.

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