The price of Brent, the price of which is a benchmark for the European market, fell below $ 64 for the first time since March 9, TASS said. January crude crude oil contracts fell 4.4% to $ 63.95 a barrel on the London Stock Exchange (ICE).
This morning, the North Sea variety of London (with tradition in January) lowered its prices by 18 cents to $ 66.61 a barrel.
US lightweight crude oil with delivery in January (today was the first day of January's futures trading) fell 7 cents to $ 57.13 a barrel in the Asian Electronic Session of the New York Stock Exchange, according to the romandie.com of the French press.
OPEC members and other black gold producers such as Russia met in Vienna on 6 and 7 December under the pressure of excessive supply, which led to a fall in prices. They had agreed to cut production to support the market after a sharp drop in oil prices in early 2016 to a minimum for the past 13 years when black gold went below $ 30 a barrel. This agreement expires at the end of the year, but new performance constraints are likely to be taken into account, analysts said.