Oil prices had fallen by 11% in two weeks – March 13th 2017 10:00 (GMT+1)

perindustries01

Since the beginning of March, the oil prices dropped almost by 11%.
Earlier this year, the OPEC countries (Organization of Petroleum Exporting Countries) declared to cut the production in cooperation with Russia, in order to reduce supply to the market and raise prices.
With the announcement of the agreement in November the prices jumped, but in the last two weeks released some data that might indicate that the agreement will not be enough and probably only cause OPEC countries lose market share.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s