Oil Prices Drop Below $68/Barrel

Oil prices have continued to fall, dropping below $68/barrel just weeks after reaching a four year high in early October.

Prices have dropped 12 percent from earlier this month, when the price of oil reached its highest level in years and some industry experts were discussing the serious potential for prices to exceed $100/barrel.  According to reports, concerns over economic growth and energy demand are driving the dip.

Many investors are unsure whether OPEC and its partners have the ability or desire to increase production to fill supply gaps.  The organization has shown signs it will reduce its production output in 2019.

Posted on October 29, 2018 at 2:03 pm

Categories: News


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