Oil market gets more activity yet the prices still fall
The activity on the crude oil market has risen on Tuesday, March 31. According to CME’s data, the sector saw the increase by around 47 400 contracts.
On the other hand, WTI price dynamic has been indecisive. The market experienced has seen a rise in interest and a reduction of volume.
Experts believe, that prices can fall to the lowest level in 18 years again. The anxiety and uncertainty about the crude production might drive the price to US$19.30 per barrel or further down.
Saudi Arabia has recently announced, that it is planning to raise the crude oil production to the new record level. Russia has stated, that it is not planning on boosting its production.