Oil Prices Fall, And Brent Hits $ 47.2 A barrel

Dubai – ( Massader News )

Oil prices fell during Monday’s trading session on the back of increased production and inventory data. Brent crude futures fell 0.4% to $ 47.2 a barrel.

The price of NYMEX crude futures fell to $ 44.49 a barrel, about 0.6%.

The Organization of the Petroleum Exporting Countries (OPEC) announced last May that production rose last month by 336.1 thousand barrels per day to 32.139 million barrels.

Baker Hughes said last week that the number of oil drilling platforms in the United States rose for the 22nd week in a row.

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