The crude priceIn the US, they are losing more than 5 percent on Tuesday, predicting the global supply and the growing economic downturn, and assessing OPEC's cut in production.
Investors are worried that big producers are going to pick up carpet on December 6 at their meeting. Production has been cut down four years ago.
These options indicate the conservation of US petroleum products LP and US Ticker. This targets the price of West Texas Intermediate crude futures.
Brent North Sea crude for July dropped 4.27 percent to USD 63.94 a barrel. The lowest level since March of this year in the ICE Futures Market in London.
West Texas Intermediate (WTI) dropped 5.63 per cent to $ 53.98 a barrel.
Oil prices fell by 30 percent to 11.7 million barrels a day
The slowdown in global trade, especially from the high prices reached in early October, especially in the US.
OPEC is pressing for a daily reduction of between 1 million and 1.4 million barrels per day due to concerns about the productivity of production, which is increasing production, in 2014.
The Minister of Energy, Khalid al-Fahih, Saudi Arabia said that the need for production costs was welcomed by Russian Prime Minister Alexander Novak.
As per the BNP Paribas, Carltle production is expected to come down on December 6.
By the end of this year, Brent will recover $ 80. In 2019, we have to pay 76 dollars per barrel and $ 69 per barrel.
The International Energy Agency (IEA), OPEC and other producers, who represent the interests of the oil consumer, warned of "negative consequences" of distributors. The oil price rise can be eliminated.
Information from Reuters and Notimax.