By the turn of the year was a barrel nordsøolie traded to almost $ 69. Now, it is available for $ 25.

One of the major consequences of coronakrisen is that the price of oil plummets. In the first quarter it went down by 70 percent.

A barrel nordsøolie that because of the quality belong to the high end, is dropped to almost 25 dollars. It was traded at almost $ 69 at the turn of the year.

Consumers have already marked, that the price of gasoline has fallen significantly.

But the market is also characterized by a oliekrig between Saudi Arabia and Russia, where the president of the UNITED states, Donald Trump, has recently offered itself as a mediator, writes AFP.

A barrel nordsøolie was Wednesday morning at the asian market traded to 25,45 u.s. dollars, while a barrel of Texas oil ended up on 20,14 dollar.

It is the sharp fall in demand around the world as a result of coronakrisen, that hurts as oil producers.

But at the same time with coronakrisen initiated the Saudi Arabia and Russia 6. march a oliekrig, who got the oil market to float over.

Saudi Arabia tried to get Russia and the oil-exporting countries organization (Opec) to reduce their production. But it said Russia no to.

It got Saudi Arabia to turn completely on and instead increase its production.

With too much oil on the market is the price raslet down through the whole of march.

Olieeksperter in the ANZ Bank tells AFP that their data shows that Saudi Arabia has increased its oil exports from seven million barrels of oil per day to approximately nine million barrels.

President Trump would like to enter and mingle. For the low price of oil affects the american producers of shale oil hard.

They are currently being beaten out of the market because, with their relatively high production costs are not able to operate a profitable production.

– They will search together, and we will all search together, and we will see what we can do, said Trump on Tuesday.

– you do not want to lose an industry. You lose a industry because of it, he thought.