The cost of June Brent crude oil futures on the London ICE exchange accelerated a decline which began the day before and reached the level of $28.4 per barrel, which is 5.1% lower than the previous session.
The price of WTI is down 5.13% to $24.02 per barrel.
(current prices: WTI $24 and Brent $28) Crude #oil production: yellow line: US, blue line: Russia and white line: Saudi Arabia, chart @BloombergTV https://t.co/YOyJSve2UM pic.twitter.com/CRuMR5Tq5t
— ACEMAXX ANALYTICS (@acemaxx) April 3, 2020
Global oil prices had collapsed amid the output hike, although these began trending upwards after US President Donald Trump said that Russia and Saudi Arabia would soon agree on market-regulating measures.
