Russian crude oil prices have dropped significantly after American and British crude oil also fell, according to international media reports. The price of Russian oil per barrel has fallen below $60 in the market.
It is noteworthy that the European Union has set a limit of $60 per barrel on Russian oil. Still, the price of oil in the market has slipped even below this fixed limit.
According to experts, the reason for the drop in the price of Russian crude oil is a decline in the price of global benchmark Brent crude, which fell this week after the OPEC producer group deferred its meeting from November 26 to November 30.
On the other hand, in the international market, the British Brent was down one percent to $80.58 per barrel as compared to the previous day, while the American West Texas Intermediate was down two percent to $75.54 per barrel.
