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The price of Brent crude continues its rapid decline

The last time so little oil was in November last year.

22.Mar.17 11:26 PM
By Catherine Brooke


The price of Brent crude continues its rapid decline

Wednesday, March 22, the price per barrel of Brent crude oil fell below 50 U.S. dollars. The last time this occurred in November 2016.

It happened in the course of trading on the London international stock exchange. May futures have fallen in price from 2.5 percent, making the price per barrel of North sea oil $ 49 and 71 cents. This can be easily seen by looking at the auction.

It should be noted that this time the oil is cheaper on the background stories of the US Department of energy on the replenishment of the reserves of hydrocarbons. Now, according to analysts, the stock of States of nearly five million barrels, while according to forecasts, this figure was not to exceed three million barrels.

Recall that the fall in oil prices began in early March, after the relevant ministries of the USA published a report about increase of oil reserves in the world. Also, the price instability has affected production in some countries, namely increasing it.

At the same time, the Treaty countries-OPEC and several of the States oil producers, obgovarivali reducing the level of oil production in order to enhance its value, in effect. For the contracts watches specially created Commission, one member of which is Russia.

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