Economic news

Oil prices continue to fall

Oil prices fell on Friday after a sharp drop earlier this week, caused by evidence pressure of the continued oversupply, despite the OPEC efforts.

Brent crude traded at $47.75 a barrel, down 11 cents after closing the previous day. It puts Brent about 12% below the opening level since May 25 this year, when OPEC members decided to extend commitments for reducing oil production in 2018.

WTI traded at $45.54, down 10 cents after closing the night before and approximately 11% lower since May 25.

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