Oil price has been falling three days in a row after report showed inventory increase in the US, and OPEC’s member Libya raises production, Bloomberg reports.

Futures in New York fell 0,8%. US inventories grew last week by 3,66 million barrels, although Bloomberg forecasted decline by 2,5 million barrels.

Meanwhile, Libya announced that it is going to produce 1 million barrels a day more, which is 40-50 percent higher than in the middle of July.

This month oil price struggled to exceed $70 per barrel level as trade conflict between the US and China, as well as crisis in Turkey threaten global energy demand.

WTI oil with September delivery fell to $66,51 per barrel. Yesterday price lost 0,2%. Brent with delivery in October is traded for $72,26 per barrel. Shanghai futures lost 0,6% and cost 517,8 yuan. Yesterday they grew by 1,1%.

OPEC’s members raised production last month despite of cut in Iran and Saudi Arabia. Average output within bloc was 32,32 million barrels a day, which is 41000 barrels a day higher than in June.