Tuesday , June 28 2022

Fall for oil prices


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

According to Reuters, the decline in oil prices is due to statements by Iraq's oil minister Thamer Ghadhban that the country will increase oil production and export capacity 2019 and that they approach agreements with international companies.

Iraq, the second largest OPEC producer, pumps out 4.6 million barrels of oil a day and now amounts to 5 million barrels per day in 2019.

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