KQED Nightly Business Report June 21, 2017
Market territory. That means they are more than 20 below their most recent peak, which was reached in january, marking the lowest settlement price for oil this year. Domestic crude fell by 2 today closed around 43 a barrel. The reason for the decline is a familiar one. Theres simply too crude on the market and not enough demand. The Worlds Biggest Oil producers tried to fix the problem, but as jackie d the fg cracks. Crude oil lower again on concerns about oversupply, which is not what is supposed to be happening now. Opec is committed to cutting output this year, but some member countries lik...