Why did oil reach the bottom of the last 6 months?

According to the report of Fars News Agency’s International Economy reporter, quoted by Bloomberg, in today’s global energy market, the price of Brent oil decreased by 52 cents and reached 91.82 dollars per barrel.

The price of American oil fell back by 12 cents and is currently trading at $86.41 per barrel.

According to the official website of the Organization of Petroleum Exporting Countries, OPEC, in the last transactions recorded, each barrel of oil of this organization was sold for 100 dollars and 4 cents.

According to Reuters, concerns about the prospect of a recession in the global economy, which will reduce the demand for oil, caused the price of black gold to reach its lowest level in the last 6 months in today’s trading.

This concern was so serious that it neutralized the incremental effect of the decline in US oil and gasoline stocks.

Stephen Bennock, an oil expert at the PVM Institute, says: “The oil market is trying to neutralize concerns about the economic recession.”

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