The price of a barrel of Texas oil dropped by 5.95%

Amid new information on the economic slowdown in China and because of oversupply in the oil market, the price of intermediate Texas oil yesterday fell by 5.95% and closed at $ 31.62 per barrel. At the end of operations in the New York Mercantile Exchange, oil future contracts for March delivery lost $ 2 over the previous close.

The news that rule out for now, a reduction in the global supply of crude from major producers and new financial information on the manufacturing industry in China affected the sharp decline yesterday, analysts said.

Source: http://expreso.ec/expreso/plantillas/nota.aspx?idart=8856507&idcat=38229&tipo=2