NEW YORK, July 16 (Xinhua) -- Oil prices declined on Thursday after major crude producers decided to ease supply curbs from August.
The West Texas Intermediate for August delivery lost 45 cents to settle at 40.75 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for September delivery was down 42 cents to close at 43.37 dollars a barrel on the London ICE Futures Exchange.
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