This morning, the cost of a barrel of oil declined amid growing production in America and a weak report on China.
Futures for WTI crude oil with delivery the following month sank by 2.1% to 44.84 dollars per barrel, March futures for Brent crude decreased in price by 1.9%, reaching 53.11 dollars per barrel.
Last year, WTI fell by 25%, which was the first unprofitable year since 2015. Also, "black gold" is trading at 41% below the four-year high of $ 77 per barrel, reached in early October.
Brent sagged 20% last year and lost 39% from a four-year high of almost $ 87 per barrel.
Energy Information Administration (EIA) on Monday reported that in October, oil production in the United States rose to a record high of 11.537 million barrels per day.
In addition, very pessimistic data on the state of the Chinese economy also affect the stock of the country.
The business index of Caixin / Markit for December fell to 49.7 from 50.2 in November, which was the first reduction in 19 months.
This only confirms the trend, which was noted in the official report on business activity, which on Monday reflected a reduction to 49.4 at the end of last month.
