Price of Brent Crude Oil Lowers But Increases In Asia

It was recorded that the price of Brent crude oil went down and on Friday it was announced that the prices reached their lowest levels since after the dip in the year 2009. The oil prices went down and the handling of data included the handling of investors along with re-investors position.

The price of the oil went lower than what it had ever been in the past five years. The lowering of the price affected the largest oil exporting country Saudi Arabia due to which the growth in the production of oil was also lowered. The markets on Thursday closed for the New Year at a record of 55.48 dollars per barrel. The New Year marked a good management for the handling of crude oil prices. The prices that were touched were equal to the prices of oil in 2009. However the difference was that the price of oil was originally this, while this time it went from almost double the price down to 55.48 dollars per barrel where it had hit 110 dollars during the past years. The price of oil affected the economies of the oil producing countries, however things have been in turmoil all over the world due to the change in the price of oil and the year was considered as a black year in the history of oil prices.

Share This Post

Related Articles

· Designed by RF