For the first time in a year and a half: WTI oil is trading at less than $ 45

The TASS Reports

"The last time the price of oil in this category was below a level of $ 45 per barrel in July 2017," the report says.

It is noted that the price of February futures on Brent oil has decreased by 0.85% and at 14:58 in Kiev is $ 53.35 per barrel.

As UNIAN reported on December 7, OPEC members and non-cartel states concluded that oil production was declining.Forefore, Russia had refused to propose to Saudi Arabia reduce production by 1 to 1.2 million barrels a day.

However, the meeting decided to cut production by 1.2 million barrels a day – 800,000 in the OPEC countries and 400 for all of the others Thus, each country of the OPEC is committed to reducing oil production by 3%.