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The price of a barrel of Texas oil dropped by 5.95%
Posted On 02 Feb 2016
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