The black gold market today faced price fluctuations, with a barrel of US-style crude oil valued at 64 dollars and 72 cents.

Also, OPEC`s basket of crude oil at $ 73 and 35 cents and Brent crude oil traded at $ 74 per barrel.

It could be said that the rise in trade pressure between China and the United States and the Russian-Saudi emphasis on production increase on the eve of the OPEC meeting reduced the price of oil on global markets.

Brent crude futures traded at $ 73.05 per barrel, down 39 cents or 0.5 percent lower than last Friday`s price.
The West Texas futures market fell 82 cents or 1.3 percent to $ 64.24 a barrel.

According to a statement issued by the Goldman Sachs Bank on Monday, concerns over the increase in OPEC members` production, weak demand from emerging economies, increased trade disputes, and increased shareholder stock markets have led to lower oil prices over the past three weeks.

The US bank expects to increase by 1.3 million barrels by OPEC and Russia by the end of 2018 and another half a million more pounds in the first half of 2019.

http://www.miningnewspro.com/en/News/194748/Brent Oil was $ 74