Wednesday , August 10 2022

Fall for oil prices


Oil prices fell sharply Tuesday afternoon and evening. One hour before the end of time in the US, Brent oil is down $ 1.20 to $ 71.97, while light oil drops by 98 cents to $ 62.12.

According to Reuters, the fall in oil prices is due to statements by Iraqi oil minister Thamer Ghadhban, according to which the country will increase oil production and export capacity in 2019 and move closer to agreements with international companies.

Iraq, the second largest OPEC producer, pumps 4.6 million barrels of oil a day and now wants five million barrels per day in 2019.

Source link