HomeEconomyGlobal oil prices fell...

Global oil prices fell for the second year in a row

Image: Getty Images

Some banks predict that the price of crude oil will continue to decline for two years.

World oil prices are down about 4% in 2024. As of December 31, Brent oil was worth about $74.5 per barrel, Bloomberg news agency reports.

Crude oil prices have been stuck in a tight range since mid-October, causing Brent crude prices to post their second straight annual decline, although lower than in the past.

The price of the benchmark American West Texas Intermediate (WTI) crude remained almost unchanged at $71.5.

The media said the oil market will face a global oversupply by 2025, complicating the task of the Saudi Arabia-led OPEC+ alliance to restore idle production. Some banks predict that the price of crude oil will continue to decline for two years.

While a potential outbreak of conflict in the Middle East or Ukraine could provide short-term support for oil.

As we have already written, Türkiye will start new drilling operations to search for oil in the southwestern part of the Black Sea.

India slows Russian oil imports
New Correspondent.net on Telegram and WhatsApp. Subscribe to our channels Athletistic and WhatsApp

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

The President signed the Law on 50% of the Motagrass for Veterans

The President of Ukraine signed a law that reduces the cost of a motorcycle by 50% for veterans and persons with disabilities as a result of the war (No. 4369-IX). .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px;...

GBI was struck by anger, the requirement of short -term reconciliations of SOC without Boytsov’s order

Employees of the State Bureau of Investigations exposed military personnel in the Nikolaev area, who demanded that the military left some of the military in exchange for returning to the service. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height:...