Brent oil went down with 1.21 percent and it is trading at 38.26usd. This is because BP announced that it is going to write off up to $17.5 billion from the
BRENT OIL 38.26usd,-0.47, -1.21%
Brent oil went down with 1.21 percent and it is trading at 38.26usd. This is because BP announced that it is going to write off up to $17.5 billion from the value of its assets after cutting its long-term oil and gas price forecasts.BP lowered its benchmark Brent oil price forecasts to an average of $55 a barrel until 2050, down by around 30% from previous assumptions of $70 a barrel betting that the COVID-19 crisis will cause long term effects on the oil demand.