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Oil Prices Loses Momentum

1 min read

At an illicit refinery in the Niger Delta, a worker sits on a wooden boat filled with crude oil. The surrounding community relies on this river water for bathing, drinking, and fishing.

The price of Brent oil is now down 4% at $48.75 a barrel on Thursday.

 

From the following graphic, it is clear to see the impact the Opec/Russia production cut from January has had on prices.

However, that now appears to be running out of steam.