Barrel of oil fell a 10.6% in November

The price of intermediate Texas oil fell again. Yesterday it fell a 0.14% less than last Friday, when its priced closed at $ 41.65 per barrel, with a cumulative decline of 10.6% in November. The reduction came on the eve of the biannual meeting to be held on Friday in Vienna by the Organization of Petroleum Exporting Countries (OPEC).

At this meeting, it is expected that ministers of the energy sector review the possibility of a cut in production quotas to offset the fall in international prices that has been registered for more than a year ago. Market analysts anticipated yesterday there will not be a decision in this regard, so the oversupply will continue.

Translated into English by Pierina Abad

Source: http://expreso.ec/expreso/plantillas/nota.aspx?idart=8708794&idcat=38229&tipo=2