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Oil Prices Have Been Experiencing The Sharpest Decline Since 1991
Starting 2020 at $ 66, oil fell to $ 31, experiencing its hardest daily decline since 1991.
Yazar: Zack Smith
Yayınlanma: 12 Mart 2020 00:03
Güncellenme: 6 Kasım 2024 05:49
Oil Prices Have Been Experiencing The Sharpest Decline Since 1991
Starting 2020 at $ 66, oil fell to $ 31, experiencing its hardest daily decline since 1991. Oil prices dropped to the bottom of history, as the Organization of the Petroleum Exporting Countries (OPEC) could not agree on maintaining production cuts. Oil prices fell 30 percent to $ 31. Oil prices experienced the most severe daily decline since 1991 when the Soviet Union disbanded. Barrel price of Brent oil, whose depreciation exceeded 30 percent compared to Friday, decreased from $ 45 to $ 31. The reason behind the price decline in oil was the inability to take a decision regarding the continuing production cut at OPEC's meeting on March 5-6. OPEC members proposed 1.5 million barrel cuts, while OPEC + member Russia disagreed, saying their reserves were prepared for a price drop.İLGİLİ HABERLER
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