Decline in oil prices due to forecast surplus oil supply

Today the Brent crude oil hit 64.35 per barrel today at6:39, and the US WTI Index reach at $ 64.35.

According to the Reuters news agency, Shana reported that the Brent crude oil price yesterday was $64.59, and the US WTI index was $ 58.38.

Oil prices fell on Wednesday as the International Energy Agency predicts the oil market will face with surplus of supply in the first half of 2020, and that forecast partially offset concerns about disruption to Libya oil production.

Fateh Beirut, head of the International Energy Agency, said: “I predict an abundance of supply in the oil and gas sector; for this reason, recent events, such as the killing of an Iranian military commander and the unrest in Libya, did not cause global oil prices to jump.

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