The fall in oil prices has been observed for seven weeks in a row

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Oil prices have been falling for 7 weeks in a row. Previously, such a long period of decline was noted in 2015. Over the past week, Brent fell by 12%, WTI - by 9.6%. Bloomberg reported that the options for sale exceeded the options for purchase in the next 12 months, showing the maximum value in the entire history of observations, which was due to weakening demand and expectations of growth in supply. At the same time, the growth of oil production in Saudi Arabia reached a record size. Brent crude ended Friday with a fall by 3 dollars 87 cents to 58 dollars 73 cents a barrel. WTI crude oil fell by 3 dollars 59 cents to 51 dollars 4 cents a barrel.

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