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Oil price recedes before the fall of global stock markets
Oil price recedes before the fall of global stock markets. Photo: opciones.cu
The price of oil fell today due to the fall of the global stock markets, which caused multiple losses in different sectors, but despite the collapse of the stock market crude oil prices remain high.

The reference Brent, of the North Sea, was located at 67.04 dollars per barrel, while the West Texas Intermediate oil, from the United States, was sold at 63.69 dollars per barrel.

The previous session, Wall Street shares fell to their lowest level in a day since the end of 2011, as well as declines in other world markets, which caused losses in bonds, cryptocurrencies and commodities.

Despite this situation, oil prices did not decrease in the same magnitude, but analysts warn about the influence of this situation in the market.

In addition, the fuel is among the 1.8 million barrels per day cuts led by the Organization of Petroleum Exporting Countries (OPEC) and Russia and the increase in US production that exceeded 10 million barrels per day. largest record since the 1970s.

Given this global scenario, experts recommend paying attention to the oil market because at some point that situation could affect the stability achieved after OPEC extended until the end of 2018 the agreement to limit the pumping of oil

The OPEC basket was quoted at $ 65.70 on Monday, which represented a loss of $ 1.35 from the previous close, the cartel said.
With information taken from PL

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