Brent oil price plummeted below $42


During today’s trading on London Stock Exchange, Brent crude oil price fell below $42 per barrel.

The price of U.S. WTI oil fell by 1.5% to $39.45 per barrel. OPEC basket price was at $39.10.

On August 1, Libyan National Oil Corporation said that in the next 2 weeks it plans to increase oil production from the current 400 thousand barrels per day to 550 thousand, and by the end of the year increase this figure to 900 thousand barrels.

A day earlier, the Saudi state oil company Saudi Aramco said that consumers in Asia will get a 10% discount on Arab Light mixture.

On July 28 analysts of Bank of America analysts predicted returning of oil prices to the level of $35-40 per barrel.

Source: Lenta.Ru


Image: Brendan McDermid/Reuters