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عين ليبيا
Oil Ministry tracks falling crude prices
Recently, global oil prices have declined due to rising expectations of increased production and a slowdown in global demand, alongside higher inventories and a weakened global economy. Additionally, the strengthening value of the US dollar has increased purchase costs for investors. During the week from July 27 to July 31, the average price per barrel was $87.90 for OPEC crude, $82.33 for West Texas Intermediate, and $88.02 for Brent, with fluctuations between lower and higher levels. These factors create a cautious balance between the possibility of abundant supplies and geopolitical tensions that could impact energy flows.
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