Global oil prices decline by $10 per barrel

  • On Thursday, the crude oil prices declined by almost $10 per barrel globally. The prices declined to $66 per barrel.

  • The prices have declined as the supply is rising but due to COVID-19, the demand is falling.

  • Due to less demand and excess supply, prices have declined in the international markets.

  • Oil-producing countries like Russia & Saudi Arabia are increasing oil supply every month this year.

  • The decline in global crude oil prices has not affected the fuel prices in India. The fuel prices have remained static since July 18.

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