Oil prices dropped by more than 6 percent NOW



Oil prices are falling rapidly, on Tuesday there was a drop in prices of more than 6 percent. Such strong price changes are not very common on the oil market. Probably petrol and diesel at the pump will be cheaper in the coming period.

Meanwhile, for a barrel of Brent, the standard for oil from Europe, Africa and the Middle East, some 66 dollars (58 euros) are charged. The price of a barrel of brent oil fell on Friday by the limit of 70 dollars. At the beginning of October, oil prices reached the highest level in four years. For Brent, the peak was at about 86 dollars a barrel.

The price decreases are partly due to the permission that eight countries have received from the United States to continue to buy oil from Iran, after the American sanctions against the country have entered into force.

Oil cartel countries OPEC have already come up with plans to cut production to support the price. That is against the sore leg of US President Donald Trump, who sees low oil prices as a blessing. According to him, in view of the current stocks, prices should fall even further.


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