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Global oil prices stabilized in the first decade of December 2019 in response to the 'OPEC-plus' deal to cut oil production by 1.2 million barrels per day between January and June 2019. The price of Brent crude—a global benchmark—rebounded slightly to about $60/barrel after falling from a recent peak of approximately $85/barrel in early October.
Announcement of 'OPEC-plus' deal had short-term effect on market. And on December 17 oil prices went down to their lowest level in over a year pushed by fears of oversupply and slowing global growth.
The Energy Data Brief offers key statistics designed to help energy market watchers anticipate and respond to developments in the energy sector as well as changes in related industries and investments.
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