One Barrel (159 litres) of North sea Brent hit around noon 54,95 dollars. The were 50 cents more than on Monday. The price for American crude oil of WTI increased 80 cents to 50,91 dollars. db Oil price Brent 54,96 USD +0,26 (+0,48%) OTC

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In the night of Tuesday the crude oil prices had slipped on the descent and on the lowest level for well over a year. At times the American price of crude oil for the first time since January, 2019 for less than 50 dollars. In early January, WTI cost more than $ 62, Brent of more than $ 67 per barrel.

a Crucial factor for the massive price slump of China's outbound Coronavirus and the uncertainty about the economic consequences for the second largest economy in the world. Economists expect China is now a significant slowdown in growth in the first quarter of the year. The global impact of the Virus-crisis are considered to be uncertain. Bernecker exchange - compass orientation for your Depot. Clear. Compact. Competent. (Partner offer) Now for 30 days completely free trial!

With these consequences be on Tuesday, experts of the Opec and other major oil producers apart. After evaluation of raw materials experts Carsten Fritsch of Commerzbank, the pressure on the so-called "Opec+" to do something to stabilize the price of Oil rises.

In Vienna, experts from the Opec+ meet until Wednesday to discuss the consequences of the Corona-crisis for your business. The market is speculating about an early meeting of the Opec+, also belongs to Russia, at the end of the coming week. Experts expect that the oil producing countries will reduce their Oil production further.

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