At the auction on the morning of 17 April, the value of the reference brand Brent crude oil fell to 27.82 per barrel, the North American WTI at 18.55 USD per barrel. It was the first time since 31 January 2002. This is evidenced by the data portal Investing.com.
oil prices continue to decline since April 13. The main reason of negative dynamics remains a falling demand for “black gold” as a result of the extension of the epidemic of coronavirus in the world and quarantine measures to limit its spread. The glut of oil on the market is now estimated at 20 million barrels per day. Storage tanks filled with more than 70%.
it is Expected that the demand for “black gold” will begin to recover in the second half of 2020.
