Tag Archives: Global oil

Oil prices hit its lowest point since December 2017 on Tuesday, following anticipated oversupply in the global crude oil market. Brent crude futures, the global benchmark fell by 7.34 percent to $64.97, while US West Texas Intermediate (WTI) lost $2 in less than 30 minutes to sell at $55.12 on Tuesday evening. During its last meeting, the Organisation of Petroleum Exporting …

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Global oil supply fell by 41,000 barrels per day (bpd) in April, the Organisation of Petroleum Exporting Countries (OPEC) said in this month’s oil market report. The organisation said world oil supply fell by 0.41 million barrels per day (mbpd) in April to average 95.81 mbpd. However, global oil production was 831,000 barrels daily higher than a year ago and …

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