Oil prices decline correctively
Oil prices drop this morning - at 8:12 Brent crude dropped by 0.25% to $ 51.21, WTI - by 0.12% to $ 48.17. Rates adjusting after last week's growth - last Wednesday they rose 2% on the back of positive news about stocks in United States. Nevertheless, at the end of the week, oil quotes decreased, which was the last time in October. Now the main factors affecting price dynamics are the situation with the coronavirus in the world and news about oil production. because of pandemics in various countries continue to increase quarantine restrictions that pose a threat to demand. Concerning oil production, then the Iraqi Oil Ministry received information that after 2023 the country intends to increase oil exports by 6 million bpd. In addition, Saudi Arabia had 4 new oil and gas fields were discovered, as announced by the minister of the country's energy sector Abdel-Aziz bin Salman.