The price of oil fell to the lowest in two years mark

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Saudi Arabia increased oil production.

In the oil market happened over these last two years, the collapse of prices.

About it reports “Radio Freedom”.

Data show that as at 23:16 on 11 July, the Brent oil price is $ 74 per barrel. Futures for the grade declined 6%, and in recent times up to the mark, the price dropped in the summer of 2016.

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It is noted that the collapse occurred after the Organization of countries-exporters of oil has published its monthly report, which referred to a sharp growth of oil production in Saudi Arabia. Also, the report warned about the oversupply in 2019.

During June, Saudi Arabia has increased oil production to 10.42 million barrels per day.

We will remind, after the President of the United States Donald trump has expressed outrage at the continued rise in oil prices, blaming a “monopoly of OPEC”, on the night of 5 July there was a slight fall in oil prices of well-known brands.

The price of oil fell to the lowest in two years mark

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