The cost of oil has dropped to prices below 70 dollars in the international market.
As per the details, Libya has agreed to revive its crude oil export; subsequently, the effect on the demand side has reduced the prices.
The cost of crude oil in the international market is decreasing by $1.5 to $2 daily. Currently, it is being traded at around $68 in the global market.
Internationally, American crude oil is being traded at $67.67 as the price dropped by $2.14.
On the other hand, the cost of British crude oil decreased to $71 following a $1 drop.
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Earlier, in March, during a meeting in Jeddah, Bangladesh Foreign Minister Hasan Mahmud sought cooperation for the import of crude oil from his Saudi counterpart as the South Asian nation worked to secure support to help address challenges in its fragile economy.
Mahmud and the Saudi Foreign Minister Prince Faisal bin Farhan met on the sidelines of an Organization of Islamic Cooperation meeting in Jeddah on Tuesday, where they joined other foreign ministers to discuss Israel’s ongoing aggression in Palestine.
