Oil prices start to fall for the first time in two weeks

Oil prices start to fall for the first time in two weeks.

As of 1 p.m. on July 17, prices fell by 2%.

This is according to the oil price data collector OilPrice.

At the moment, prices continue to fall.

It will be recalled that in early July, Saudi Arabia and the Russian Federation announced that they would cut production of this resource in the summer. This caused the price of oil to rise. 

During the second week of July, the price rose even more due to protests in Libya that led to the disruption in the work of oil fields. At the end of the week, the protests eased, and the largest fields resumed operations.

Photo: David Thielen | Unsplash