OIL PRICES CONTINUE TO FALL

31/10/2020

Serhat TUNAR -TDO- Global oil prices, which have fallen to their lowest levels in recent years due to the Coronavirus outbreak, continued their negative course and fell 1 percent on Friday (yesterday) to a 5-month low.

The price of a barrel of Brent crude, which has been depreciating for the past 3 days amid growing concerns that an increase in coronavirus cases in Europe and the United States could hurt fuel consumption, fell 51 cents to trade at $ 37.14.

On developments in recent months, OPEC countries and Russia will hold a meeting in January to increase the amount of oil production in Libya, increasing daily production by 2 million barrels in total.