Driven by the indefinite postponement of OPEC+ discussions, oil prices closed higher on Monday, suggesting a renewal in August of production quotas applying in July and not the increase in production once envisaged.

The plan ''to increase oil production each month by 400,000 barrels per day between August and December, for a total of 2 million barrels daily put back on the market by the end of the year'' is however on the table since Thursday. Oil is taking advantage of this cancellation of the OPEC+ summit and rising again. A barrel of Brent North Sea oil for September delivery ended at $77.16 in London, up 1.30% or 99 cents from Friday's close. In New York, the barrel of WTI for the month of August gained 1.60% or 1.20 dollars, to 76.36 dollars. Shortly before the early closing due to a holiday in the United States, the two reference prices respectively touched 77.26 dollars and 76.39 dollars, a first since October 2018.