Oil prices fell by almost 15%

KIEV. April 20. UNN. WTI crude oil price fell on the London Intercontinental exchange (ICE) on Monday, April 20, almost 15%. It is reported by UNN with reference to DW.

The cost of the may futures of WTI is at the level of 15.92 USD per barrel.

The Brent oil price decreased by 4%, the cost of the June futures dropped to $ 27 per barrel.

The price of crude oil on WTI during the Asian session fell by 20% – below $ 15 per barrel. This is a record low for the last 20 years.

Recall that in early March, OPEC members and its partners are unable to agree on further reduction of production volumes by an additional 1.5 million barrels per day. On lowering insisted Saudi Arabia, and Russia opposed. The failure of the talks led to the fall in oil prices to the lowest in 18 years. The prices also contributed to the epidemic of the coronavirus.

Later the OPEC countries agree to cut oil production.