The price of oil decreased by one dollar and 39 cents

According toMehr News Agency to According to Reuters, the slowdown in China’s economy growth has pushed down oil prices in today’s trading. The price of oil decreased by 7% in the last week.

The price of a barrel of Brent North Sea oil today decreased by 1 dollar and 39 cents, equivalent to 1.87%, to 73 dollars and 6 cents. Texas Intermediate West oil is traded at $1.45 cents, equivalent to 2.05% decrease, to $69.22 cents.

Brent oil has lost more than 7% and US oil about 8% over the past week, experiencing the biggest weekly price decline since September 2, when OPEC and The International Energy Agency lowered its forecast of global demand for oil in 2024 and 2025.