Brent crude dipped 8% to below $60 a barrel today, near a five-year low. Despite the oversupply of oil in the global markets amid falling demand, the biggest oil producers, like Russia and the Organization of the Petroleum Exporting Countries (OPEC), have opted to not reduce current production levels.
Brent crude dipped 8% to below $60 a barrel today, near a five-year low. Despite the oversupply of oil in the global markets amid falling demand, the biggest oil producers, like Russia and the Organization of the Petroleum Exporting Countries (OPEC), have opted to not reduce current production levels.
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