Oil prices in Asia declined slightly. Traders are still evaluating the effect of the agreement between the US and China. Despite the signal of possible reduction of risks for the global economy, demand from China remains sluggish. Additional pressure was OPEC+ decision to increase production in July by 411 thousand barrels per day - this is the fourth consecutive increase. Analysts doubt that seasonal consumption growth will be able to fully absorb the excess supply. At the same time, data on inventories in the U.S., expected later on Wednesday, may make adjustments to short-term forecasts.