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Brent crude oil price fell below $ 66.40 per Economy barrel – Article News | Articles


Singapore, November 20 (BSTT) – Brent's crude oil price on Tuesday decreased as aggravating prospects for global economic growth and increased US production equates to market expectations that large producers will agree to break mining in the weeks next.

Representatives from the Institute of Petroleum Exporting Countries (OPEC) will meet in Vienna on December 6 to agree the production scale for the next six months. Saudi Arabia would like to convince other countries to go ahead with a plan to reduce mining, up to 1.4 million barrels a day (1 barrel = 159 liters).

Many analysts are convinced that the European Office of European Operations could ultimately determine mining. "We expect OPEC to meet production decline on December 6," said BNP Paribas analysts.

A US production is increasing and there is currently a recording level of 11.7 million barrels per day. Since beginning & year it has increased by around 25%.

The price of Brent's crude oil, with a supply in January, reached CET 66.36 (EUR 58.07) per barrel by 8.40 hours. When compared to the previous deadline, this decreases by 43 cents.

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