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International Oil Price Fell On May 31st, Closed At $48.32 A Barrel
Jun 02, 2017

Media reported that, the daily crude oil output of Libyan has reached 827000 barrels, which is the highest level in three years. Analysts said, this news increased market supply exceeds demand, the international oil prices weighed on the downside.

By the end of the closing day, the future price of light crude oil delivering in July from the New York Mercantile exchange fell by $1.34 and closed at $48.32 a barrel with a decrease of 2.70%. The future price of London Brent crude oil delivering in July fell by $1.48 and closed at $50.76 with a decrease of 2.83%.

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