World oil prices fluctuate on Wednesday amid reports on the growth of the IEA to the world market, and pending the decision of the OPEC quota on oil production, which can be left unchanged, according to the auction.

OPEC will decide on quotas for oil production at a meeting held on Thursday in Vienna. It is expected that any changes to the quota would be taken against the background of a significant amount of oil supply in the markets, even after the decline in oil production of OPEC member countries in May for the first time in eight months.

In its June report, the International Energy Agency (IEA) reported that oil supplies to world markets in May rose in April to 200,000 barrels - to 91.1 million barrels per day. At the same time global oil demand in 2012 is projected at 89.9 million barrels.

In the U.S. oil reserves last week, according to the EIA, decreased by 0.191 million barrels, is expected to decline to 1.411 million barrels.

Crude oil for July delivery dropped to $82.15 a barrel on the New York Mercantile Exchange. Prices are down 16 percent this year.

Brent oil for July settlement decreased 5 cents to $97.09 a barrel on the London-based ICE Futures Europe exchange. July futures expire tomorrow. The more actively traded August contract was down 26 cents, or 0.3 percent, at $96.71.

Gold is expensive because of the possible mitigation requirements of the euro area to Greece after the Financial Times Deutschland reported on possible mitigation requirements of the European leaders to Athens after the elections in the Greek parliament on June 17.

Earlier it was reported that eurozone countries are ready for negotiations with Greece on the waivers in the fiscal program, which takes place in exchange for the EU and IMF loans, the newspaper Financial Times Deutschland. Greece gets the credit support, which will exceed the sum of 240 billion euros, and this spring has been restructured Greek debt to private creditors. The program cost reductions, liberalization and privatization law does not fit in on time.

The June gold futures on the COMEX today rose to 1622.4 dollars per ounce.

Change % Change Last

Gold 1,611 +14 +0.88%

Oil 83.45 +0.75 +0.91%