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Oil prices went down sharply

Brent goes into a nosedive because of the United States.

08.Mar.17 10:45 PM
By Catherine Brooke


Oil prices went down sharply
Wednesday evening, March 8, the price of Brent oil went down sharply. It happened in the course of trading on international exchanges. During the evening sale may contracts fell by three percent and the price per barrel fell below $ 55 for the first time in a month and a half.

According to data provided by the London Intercontinental exchange ICE, at 20.30 Moscow time futures contracts for delivery of Brent crude oil mined in the North sea basin became cheaper by 3.1%, falling below $ 55 per barrel to 54, 16 USD.

As reasons for the decline, experts referred to the publication of the Ministry of energy of the United States of America on commercial oil reserves. According to authorities, the oil reserves in the world in the last week dramatically increased from 8.2 million barrels. Now, according to them, the world oil reserves are in excess of 528 million barrels. It is worth noting that international experts do not agree with the us Commission, in their opinion, stocks from 24 February to 3 March increased by only 2 million barrels.

Recall, to increase global oil prices the OPEC countries and a few oil-producing countries have signed an agreement to reduce oil production. Russia is also one of the countries signatories to the agreement. For execution followed by a special Commission, in which there is a representative of our country. Previously, we reported that oil prices rose against the background of statements of the head of the organization.

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