Tuesday , October 4 2022

Fall for oil prices


Oil prices fell paced on Tuesday afternoon and evening. One hour before the closing time in the US, the price of Brent oil is from $ 1.20 to $ 71.97, while the light oil drops from 98 cents to $ 62.12.

According to Reuters, the drop in oil prices stemmed from the statements by Iraqi oil minister Thamer Ghadhban that the country's oil production and export capacity will increase in 2019 and that it will approach agreements with international companies.

Iraq, the second largest producer of OPEC, produced 4.6 million barrels of oil per day and now targets five million barrels per day in 2019.

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