Why Are Oil Prices Falling Again? Russia, OPEC May Increase Output Soon
May 27, 2018
After reaching its highest point since the second week of November 2014 on Wednesday, the price of crude oil slid by almost 3 percent Thursday and Friday. Trading at $79.80 on Wednesday, the global benchmark Brent crude fell sharply over the next two days, closing Friday trade at $76.44, driven by the prospect of an increase in supply by Russia and the Organization of the Petroleum Exporting Countries (OPEC).