Prices have fallen despite the OPEC meeting.
Oil prices have fallen on Friday, despite markets expecting the next week's emission reductions and OPEC and non-OECD members. The fifth petroleum jargon is an increase in stocks in warehouses around the world.
This has led to an increase in oil production in the United States, Russia and oil cartel member states. This helped fill the warehouse. In some markets the supply of goods exceeds demand.
Barley (159 liters) West Texas Intermediate (WTI) oil was delivered in January at Friday 18.06 h CET sold for USD 51.36 (EUR 45.21). That's 9 cents less than the day before the end of trading.
The contract price in January for Brent crude oil blend fell by 76 cents to $ 58.75 per barrel.
(EUR = 1.1359 USD)