Business newsNews

The price of Brent oil fell below $31 per barrel

Advertisement

The price of Brent oil fell below $31 per barrel. This is evidenced by trading data on Monday, April 13 on the LONDON ice exchange.

By 11: 10 (Moscow time), the price of the June Brent oil futures fell to $30.93 per barrel. Later, by 11:28 (Moscow time), the price rose to $31.07 per barrel, which is 1.3% lower compared to the level at the close of previous trading. On the NYMEX exchange, the price of the may WTI oil futures by 11: 37 (Moscow time) was $22.25 per barrel.


On the eve of April 12, OPEC+ countries reached a final agreement to reduce oil production by 9.7 million barrels per day in may-June 2020.


Later, further reduction plans became known: in July-December 2020, there will be 7.7 million barrels per day, then-5.8 million b / d until the end of April 2022.

In early March, OPEC+ member countries failed to agree on global oil production volumes. Later, the media reported that Saudi Arabia plans to increase production to 10-12 million barrels per day and reduce the price of its oil. A few days later, the oil markets collapsed by 30%, the ruble exchange rate fell sharply against the Euro and the dollar, and shares of Russian companies lost significantly in price.

Advertisement
Advertisement

Admin

Contact/Whatsapp No: +2348137451665, Twitter: @globalgistng1, Facebook: globalgistng, Email: globalgistng@gmail.com

Leave a Reply

Your email address will not be published.

CommentLuv badge
Back to top button