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Crude Oil Price: Crude oil falls due to decrease in demand, price reaches $ 66 a barrel

Crude Oil Price: Crude oil declined due to decrease in demand and increase in supply. The price fell to $ 66 a barrel.

Crude Oil Price: In India, the price fell to $ 66 per barrel due to decrease in demand for crude oil and increase in supply. Strong demand is expected in many countries, including the United States and China, which can be seen coming in forward. Also Read – Crude oil price: Crude oil prices are increasing in the international market amid rising Corona cases, know why?

More than 300,000 new coronovirus cases were reported for the 12th consecutive day in India. In April, the new Corona virus wave has caused a decline in fuel sales in the world’s third largest consumer country. Also Read – Crude oil price: softening in crude oil during the Corona period, stability in petrol and diesel prices

Brent crude fell 35 cents, or 0.5 per cent, to 66.41 per barrel. American West Texas Intermediate fell 27 cents, or 0.4 percent, to $ 63.31. Also Read – Crude oil demand recovery: Demand recovery in global oil market likely to be delayed due to rising Kovid case

America and China are the top two oil consumers in the world. As of Sunday morning, the United States had administered 245,591,469 vaccine doses. China had given 275.34 million doses till Sunday.

Brent reported a 30 percent increase this year due to record supply cuts by Petroleum Exporting Countries (OPEC) and its partners, known as OPEC +.

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