Volatile week of oil/oil prices closed with a 2% drop
According to an economic reporter quoted by Bloomberg, in last night’s transactions of the global energy market, oil prices Brent North Sea fell 1.68 percent and lost the $80 channel. This oil is currently trading at $79.68 per barrel.
US oil was also negative by 1.93% and is trading at $76.65 per barrel.
According to the official information base of the Organization of Petroleum Exporting Countries, OPEC, each barrel of oil produced by this organization was sold at an average price of 79.93 dollars on Thursday.
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According to Reuters, the reason for last night’s drop in oil prices is concerns about the prospects of demand for this energy carrier in China. as the largest oil customer in the world.
Official statistics show that China’s economic growth has slowed down, so that the selling price of housing in this country has recorded the biggest drop in the last 9 months.
OPEC has also lowered its forecast for the growth of oil demand for this year due to the prospect of a decrease in China’s demand.
The International Energy Agency has also reduced its forecast for oil demand in the next year for the same reason.
