Oil fell below $ 69 per barrel

Нефть подешевела ниже 69 долларов за баррель

Brent crude fell below $ 69 for the first time since April 10 of this year. During the day, the oil lost in the price more than 3%.

The price of the reference brand of oil accelerated the fall on Tuesday, November 13.

So, as of 12:00 the price of North sea Brent was at the level of 68,71 dollars per barrel. It’s by 3.24% below the closing level of the previous trading session. Thus Brent crude oil fell below $ 69 for the first time since April 10 of this year.

In turn, the price of oil WTI for December delivery in electronic trading on the new York Mercantile exchange (NYMEX) fell by $0.41 (0.69 percent) to $58,67 per barrel.

Note, oil prices fall after OPEC Committee meeting in Abu Dhabi. At the meeting the parties have not agreed whether or not the OPEC countries to cut production in the new year.

The following talks will be held in Vienna on 5-7 December, when OPEC+ will have to sign a new agreement on permanent cooperation with Jan 2019.

Also the price effect the intention of Saudi Arabia since December to reduce oil production to stabilize the market.

 

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