Sunday , January 29 2023

Oil price decline


Oil prices skyrocketed on Tuesday afternoon and evening. Brent crude was down from $ 1.20 to $ 71.97 a barrel, while light oil fell to $ 62.12 from 98 cents.

According to Reuters, the fall in oil prices is attributed to Iraq 's oil minister, Thamer Ghadhban, who said he would increase oil production and export capacity in 2019 and sign an agreement with international companies.

The second largest producer of OPEC producers is to pump 4.6 million barrels of oil a day and target 5 million barrels a day by 2019.

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