DH Latest NewsLatest NewsBusiness

Crude oil prices slips down

In the international market the price of crude oil has been slipped down sharply on Friday.

US benchmark West Texas Intermediate was down 9.3% at US dollar 22.76 a barrel while Brent, the international benchmark, slipped 4.1% to Us dollar 31.48 a barrel.

The crude oil price has been slipping down due to the decline in demand amid the Covid-19 pandemic. The crude oil prices has touched two-decade low due to this.

A meeting of the oil producing countries, OPEC has conducted a meeting on Thursday to discuss this.
Venezuela, Saudi Arabia and Russia had proposed to reduce production by around 10 million barrels per day. But this was opposed by Mexico.

Post Your Comments


Back to top button