On March 23, global oil prices continued to fall against the backdrop of the aggravation of the situation with the spread of coronavirus, at constant volumes of oil production.
The Brent crude price on Monday, March 23, fell to USD 24.84 a barrel, and the US WTI crude oil dropped to USD 21.07 a barrel. Now market prices have risen somewhat. The cost of Brent crude oil is USD 25.90, and American WTI crude oil – USD 22.36.
Today’s oil drop is a record since 1991.
Experts explain the current situation by the spread of coronavirus and the inability of the Russian Federation and Saudi Arabia to agree to reduce oil production due to a drop in demand.
Read also: Global oil prices collapse again.
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