Reported 12 days ago
Oil prices fell for a second consecutive day due to Saudi Arabia's plans to increase production in December and a potential resumption of crude production in Libya following a new agreement between rival factions. Brent crude dropped below $72 per barrel, marking a 5% decline since Tuesday. Analysts suggest that the oil market may face oversupply, further pressuring prices as Saudi Arabia aims to regain market share and may relinquish its target price of $100 per barrel.
Source: YAHOO