Wednesday , July 6 2022

Autumn oil prices


Oil prices fell on Tuesday afternoon and evening. One hour before the US closing time, Brent crude oil is down by $ 1.20 to $ 71.97, while light oil drops by 98 cents to $ 62.12.

According to Reuters, the fall in oil prices is caused by statements by Iraqi oil minister Thamer Ghadhban, according to which the country will increase production and capacity exports in 2019 and that it is approaching agreements with international companies.

Iraq, the second largest producer of OPEC, drains 4.6 million barrels of oil a day, and now targets 20 million barrels per day in 2019.

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