The price of oil has been falling on a background of the raw materials overflow in the market and the statements made by the Minister of Energy of Venezuela. According to his words, the "black gold" can decrease in value to $ 25 per barrel, if some measures to reduce the production by OPEC are not taken. The cartel daily produces 30 million barrels more, than the established quota. The shale oil production has an additional impact on the market by increasing the already excessive supply of the raw materials.
With such negative sentiment, investors began to sell the asset. The value of WTI oil decreased by 1.22%. Do not miss the opportunity to earn money on a further decline of the "black gold". Trading will be available from 03:00 to 20:00 GMT time.
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