Oil prices in free fall: Drivers can look forward to falling costs!

Current developments on the oil market show a significant downward trend in oil prices, influenced by worrying economic views and the customs policy of Donald Trump. According to information from Swabian Post Plan the Opec+ States to increase the production rates in June by 411,000 barrels per day. This decision should lead to a global surplus.

The price for a barrel Brent oil fell to $ 60.39 on March 5, which corresponds to a decline of 91 cents compared to Friday evening. This marks an approximate value of $ 58.40, the lowest level in over four years. The price for the US variety WTI fell by $ 1.07 to $ 57.23. These developments result from the fact that the Opec+ has increased oil production in the past two months.

Influence of US customs policy

customs wars, especially between the USA and China, have had a significant impact on crude oil prices. This topic is from Süddeutscher Zeitung that also emphasizes that the conflict within the Opec+ Raw oil price pressed to a four-year low. Consumers currently benefit from the current market conditions.

In the course of April the month, the Brent Roh oil price fell by more than $ 15 in just seven days and reached the lowest level with $ 58.40 in four years. Although the oil price rose again in the following week, this trend did not recover sustainably and the prices fell again.