(AOF) – Friday, the price of a barrel of American WTI showed a weekly decline of 1% to 86 dollars following reaching 81.9 dollars on Tuesday, its lowest level since mid-January. The September 5 announcement by OPEC and its partners, including Russia, to cut production was not enough to stem the decline in oil prices. These are now lower than they were when Russia invaded Ukraine in February. The oil market is penalized by the fear of a drop in demand in the wake of the deterioration of the global economic outlook.
