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Oil Prices Collapse
The decrease in demand for oil due to the coronavirus epidemic and the inability of OPEC members to decide to go down production causes a sharp collapse in oil.
Yazar: Zack Smith
Yayınlanma: 18 Mart 2020 14:14
Güncellenme: 6 Kasım 2024 10:02
Oil Prices Collapse
The decrease in demand for oil due to the coronavirus epidemic and the inability of OPEC members to decide to go down production causes a sharp collapse in oil. Oil prices continue to drop. Prices continue to decrease as OPEC members fail to make joint decisions for production cuts, Saudi Arabia and the United Arab Emirates decided to increase oil production, and the coronavirus is rapidly increasing worldwide, and the demand for oil drops. Due to the coronavirus epidemic, which affected the world economies incredibly, giant companies started to suspend or stop their production. For this reason, world trade slowed down and demand for oil declined. Brent oil started the day at $ 28.7. During the day, it saw the lowest level of $ 28.45 and the highest at $ 29.20. As of 08:06, oil is trading at $ 29.08.İLGİLİ HABERLER
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