Oil is down, showing the maximum quarterly decline from 2015

Oil prices declined on Friday, interrupting the three-day rally, due to fears of investors that the growth in reserves and drilling activity in the US is offsetting the decline in OPEC+ production.
By 14.29 GMT, futures for Brent crude fell by 0.68 percent to $52.60 per barrel.
Futures for American oil WTI by this time were traded at $50.11 per barrel, 0.48 percent lower than the previous closing.
Prices for both benchmarks fell by almost 7 percent compared to the previous quarter - this is the worst indicator since the end of 2015.
The growth of drilling activity and oil reserves in the US undermines the efforts of OPEC and non-cartel states that previously agreed to reduce oil production during the first half of the year by a total of 1.8 million barrels per day.
Nevertheless, despite the OPEC+ pact, the market remains oversaturated, which is why most market players believe that the agreement will be extended to the second half of 2017.
One of the reasons that OPEC and miners outside the club can extend the agreement is the desire to support oil prices.