Tuesday , September 21 2021

Fall for oil prices

Oil prices fell rapidly on Tuesday afternoon and afternoon. An hour before closing time in the US, Brent oil fell $ 1.20 to $ 71.97 while light oil fell 98 cents to $ 62.12.

According to Reuters, the fall in oil prices was due to Iraqi oil minister Thamer Ghadhban's statement that the country would increase oil production and export capacity by 2019, and that they approached an agreement with an international company.

Iraq, the second largest OPEC producer, pumps 4.6 million barrels of oil per day, and is now targeting five million barrels per day in 2019.

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