Crude closes below $75
At the end of the trading week crude oil closes down below $75 per barrel.
Due to decline in the prices of lube, American refineries have also decreased their average production by 2.9% and are operating at 78%. Rise in the price of Dollar is also having a negative impact on the prices of oil. Excessive production by OPEC is also contributing to the decrease of prices. According to experts due to sufficient supply of oil in the market a decline in oil prices is being witnessed.
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