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Oil prices rising sharply in November 12.11.2018 | Economy – News Articles Articles


November 12 (TASR) – Oil prices on Monday rose by about 2% on the Brent price. Markets responded to Saudi Arabia's Declaration on Decrease in Oil Export in December. According to experts, it is responsible for the high stock market and a significant drop in commodity prices in the previous period. Since the beginning of October, crude prices have dropped by about 20%, in addition to Saudi Arabia, the United States and Russia have also shown high production.

Saudi Arabian Oil Minister Halid al-Falek said on Sunday (November 11) that Saudi Arabia plans to ship 0.5 bn barrels per day (159 liters) to markets in December compared to November. In response to his statement, oil prices have changed dramatically, with the Brent oil price above $ 71.

Brent oil price increased by $ 1.32 (1.88%) to 7.49 hours in January to $ 71.50 (63.02 euros) for a barrel. WTI crude oil prices have significantly increased in WTI terms in December. US $ 0.78 (1.30%) higher than the previous closing date and amounted to $ 60.97 per barrel.

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