Oil prices on Monday hit their lowest levels in months despite the Saudi-led OPEC and its Russia-led allies agreeing on Sunday to extend production cuts.
Benchmark U.S. crude changed hands for as little as $75.12 a barrel in morning trading, according to Dow Jones Market Data.
This is the cheapest price since February 8.
The decline of crude prices has been a boon for American drivers and slowed U.S. inflation.
While reduced production quotas by OPEC+ members have taken millions of barrels of oil off the global market each day, new output from the U.S., Guyana, and Canada has weighed down prices.
http://radiojamaicanewsonline.com/business/oil-prices-hit-their-lowest-levels-in-months
