Thursday , May 6 2021

Fall in oil prices

Oil prices fell intense on Tuesday afternoon and evening. One hour before the closing time in the US. U., Brent oil dropped between $ 1.20 and $ 71.97, while light oil dropped from 98 cents to $ 62.12.

According to Reuters, the decline in oil prices is due to statements by Iraqi oil minister Thamer Ghadhban that the country will increase oil production and export capacity by 2019 and will come close to agreements with international companies.

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

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