São Paulo – Brent oil barrel price at the London Stock Exchange on Friday (10th) fell to its lowest level since December 2010. According to information from news agency Reuters, the barrel price reached US$ 88.10, but closed at US$ 89.35 for November delivery.
The barrel price has sunk mainly due to the increased output in North America and Saudi Arabia. Forecasts for weak economic growth in Europe and Asia, besides a slight rebound in oil output from Iraq and Libya, have also helped push down the price. In September, Saudi Arabia oil output rose by 100,000 barrels per day.
*Translated by Rodrigo Mendonça
