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Brent crude hits $ 50 a barrel
Oil prices fell sharply on Wednesday to hit [url=https://www.thebaghdadpost.com/ar/Story/t/80542/%D8%AE%D8%A7%D9%85 %D8%A8%D8%B1%D9%86%D8%AA]Brent crude[/url] at $ 50 a barrel, while US crude hit $ 42 on concerns of slowing market growth.
At 9:30 am Baghdad time, Brent crude was down $ 0.60, or 0.18 percent, down $ 2 on Monday.
US crude was up 42.17 at $ 0.17 or 0.38 percent, and despite rising, it lost more than $ 3 in the past two days.
Brent fell 11 percent last week, its lowest level since September 2017, while US futures contracts hit their lowest level since July 2017, bringing the contract down to 35 percent in the quarter.
Markets at all asset levels were under pressure as concerns about growth grew, and investors turned to safe havens such as gold and US debt instruments.
The Organization of the Petroleum Exporting Countries (OPEC) and Russia agreed earlier this month to cut output by 1.2 million bpd starting in January to curb supply.
UAE Energy Minister Suhail al-Mazroui said on Sunday that OPEC and its allies would hold an extraordinary meeting if the cuts did not stop to balance the market.
https://www.thebaghdadpost.com/ar/Story/140659/%D8%A7%D9%86%D8%AE%D9%81%D8%A7%D8%B6-%D8%AD%D8%A7%D8%AF-%D9%81%D9%8A-%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D9%88-%D8%AE%D8%A7%D9%85-%D8%A8%D8%B1%D9%86%D8%AA-%D9%8A%D8%B3%D8%AC%D9%84-50-%D8%AF%D9%88%D9%84%D8%A7%D8%B1%D8%A7-%D9%84%D9%84%D8%A8%D8%B1%D9%85%D9%8A%D9%84
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