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This has led to the stock market almost becoming bearish.On the New York Mercantile Exchange, the price of a barrel was $60.19, a significant drop by 48 cents. In the past week at the time of writing, oil price had lost 4.7% of its value which marked a fifth straight weekly drop. What are the causes of the plunging oil prices?

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WHAT HAPPENING TODAY: President Donald Trump's response to the coronavirus may be a case of too little, too late. OPEC, Russia and other oil-producing nations finalized an ...

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20.11.2025· Oil prices have plummeted in recent days, months after surging to their highest point since 2014. After topping $75 a barrel in early October, the price of West Texas intermediate, the North

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29.08.2014· Valero oil refinery in Three Rivers, Tex., is over the Eagle Ford shale, which is producing a million barrels of oil a day Credit Michael Stravato for The New York Times

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27.10.2017· He spoke to Stanley Reed, a New York Times reporter, on the sidelines of an event sponsored by the Oil and Gas Climate Initiative, a partnership of 10

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The Bakken and Eagle Ford production will grow, but much less than expected, Papa said. Despite expectations of growth in the Bakken, operators will not be rushing to it, like they have been doing

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  • Why did oil prices fall in New York on Friday?
  • NEW YORK: Oil prices fell by more than 1 Percent on Friday and cemented weekly losses as analysts projected a supply surplus next year on weak demand despite an OPEC+ decision to delay output hikes and extend deep production cuts to the end of 2026. Brent crude futures settled at $71.12 a barrel, shedding 97 cents, or 1.4 Percent .
  • Why did oil prices fall 2percent on Friday?
  • Global benchmark Brent crude futures fell by 2.3percent, or $1.76, to$73.87 per barrel. NEW YORK: Oil prices settled more than 2percent lower on Friday as traders grew less fearful of prolonged supply disruptions from a hurricane in the U.S. Gulf of Mexico, while China's latest economic-stimulus packages failed to impress some oil traders.
  • What happened to oil prices?
  • Oil Prices: U.S. West Texas Intermediate futures led the decline and settled at 70.35 per barrel, down by 2.7percent, or $1.98. Global benchmark Brent crude futures fell by 2.3percent, or $1.76, to$73.87 per barrel.
  • Are oil prices approaching a top?
  • Tom Kloza, global head of energy analysis with the Oil Price Information Service, believes oil prices are approaching a top, with U.S. crude oil at $74.38 and Brent crude, the international benchmark, at $78.05. “Perhaps Brent may have a cup of coffee at $80 a barrel or higher,” he wrote in an email, but the long-term outlook is for lower prices.
  • What's going on with oil prices?
  • Now analysts are bracing for everything from a price spike to a price plunge. As millions of Americans hit the road again, there's just no certainty around where crude is headed. Here's what you need to know about the volatile oil prices: Last year, as the coronavirus pandemic spread around the world, global oil demand dropped remarkably fast.
  • Why did oil prices rise 1percent week-over-week?
  • Despite Friday's losses, oil prices gained more than 1percent week-over-week, drawing support from expectations of tighter sanctions on Iran and Venezuela by U.S. President-elect Donald Trump, which could cut oil supply to global markets.