The price of Brent crude reached a record low

The price of oil Brent following the results of 6 March reached a record over the last 11 years at least drop in one day.

Цена нефти Brent достигла рекордного минимума

As reported “Facts” Friday, March 6, the price drop has reached 9%. Accordingly, the cost dropped to 45.34 USD per barrel.

The cause of the collapse in oil prices — disruption of the continuation of the agreements with OPEC countries outside the cartel and limiting of oil production, ending on 1 April.

During the negotiations in Vienna, the parties failed to sign a new agreement — OPEC countries proposed to further reduce the oil production, and countries outside the cartel, insisted on the extension of the agreement for three months in its current version.