on Friday, Oil prices had fallen sharply. A Barrel of North sea Brent hit there in the afternoon, at times less than 45,50 US Dollar and more than 9 percent less than the previous day. On Sunday the price dropped to just under 35 dollars, which represents a decrease of almost 25 percent.
the trigger for the recent price, the news that the oil cartel Opec and its co-operation agreement partners on a further limitation of the crude oil production was falling. At the beginning of the year the Brent price per Barrel at more than 65 dollars. Numerous experts and organizations, in the meantime, the demand for crude oil will grow more slowly than expected, or could even decrease. At a constant production is likely to put Oil prices under further pressure.
No Limits starting in April
had The Opec, as a reaction to the economic consequences of the new Coronavirus, on Thursday a tightening of the current funding limits by 1.5 million barrels (each 159 litres) of Oil per day required. But the attempt, with the thrust pressure on Russia and the other partners to exercise failed. Since it was not possible to extend the current funding limit, to the 14 Opec members and 10 partners from 1. April no longer any Limits to hold.
Index-certificate on BRENT CRUDE OIL FUTURE 06/2020 (ICE-EUROPE) USD 24,00 EUR -2,14 (-8,19%) Stuttgart lost data
After the recent oil price decline, the shares of Saudi Arabia’s national oil Company Saudi Aramco on Sunday had significant value. On the stock exchange in Riyadh, the papers of the world’s largest oil Company following a sharp fall in the top 9.4 per cent and closed with a Minus of 9.1 per cent at 30 Riyal (€7.08). Thus, the shares are traded under the issue price of 32 Riyal IPO in mid-December.
Aramco had less than three months ago, so far the largest IPO and the technology-heavy weight Apple as the most valuable company in the world to be replaced. On the first day of trading on the Saudi stock exchange Tadawul were traded, the share of the state group, at the highest possible rate of 35.2 Riyal. Aramco took through the sale of only 1.5 per cent of its shares initially 25.6 billion dollars. Thus, the company broke the record of Chinese trading platform Alibaba from the year 2014 for the largest IPO.
beb/dpa
