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The Asian oil market continues to fall
The price of WTI has fallen to its lowest level in more than a year. Interfax-Ukraine reports that Brent has been at least since November.
ALSO READ: What will happen to gasoline prices by the end of the year? 0.78 USD (1.31%) to 58.83 USD per barrel.
The January WTI futures price at the New York Mercantile Exchange (NYMEX) electronic auction dropped to $ 0.69. (1.38%) at 49.19 dollars per barrel.
The OPEC and other oil producing countries agreed to reduce gross extraction during the first half of 2019. In January, countries will have to cut their oil production by 1, 2 million barrels a day. Such a limit will be in force during the first six months of 2019. The OPEC countries' share will be 800,000 barrels per day, while other countries, including Russia, will reduce the production of oil. 400,000 barrels.
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