Mubasher: The prices of oil in global markets have seen its biggest weekly decline since January after disputes between Saudi Arabia and Iran regarding crude output level have risen again, which might jeopardize OPEC’s ability to limit production.
Brent crude oil went down by 1.66% and reached $45.58 per barrel (pb) by the end of Friday’s trading, registering its biggest weekly loss since last January by 8%.
Meanwhile, the prices of WTI crude futures decreased by 1.19% on Friday to $44.13 pb, recording a weekly decline by 9%.
