Oil prices expected to rollback next week

Transcript

00:00Oil prices are expected to decrease in the first week of August according to the Department of

00:04Energy or DOE. Gasoline prices could drop by 20 centavos per liter. Diesel may fall by 20 to 40

00:12centavos per liter and kerosene might go down by 30 to 35 centavos per liter. The potential price

00:19drop is due to the weak demand from China and the Organization of Petroleum Exporting Countries or

00:25OPEC's plan to increase global supply. However, tensions in the Middle East and declining oil

00:31inventories in the U.S. could offset these reductions or result in smaller rollbacks.