Oil price fell to $72

The price of Brent crude oil on the ICE Futures exchange fell by about 7% due to OPEC's decision not to cut production. As of 21:00 Moscow time, a barrel of oil was trading at $72.5. During trading, quotes dropped to $71.5.

• On November 27, at the OPEC conference, it was decided to leave oil production quotas at the same level - 30 million barrels per day. It is expected that this production ceiling will remain for at least six months. Moreover, over the past months, OPEC countries have exceeded the quota by about 1 million barrels per day.
• OPEC includes 12 countries. Venezuela sought a reduction in production, but other countries in the organization, including Saudi Arabia, did not support this proposal.
• On the eve of the summit, Russia and Mexico, which are not members of OPEC, held negotiations with Saudi Arabia and Venezuela. No decisions were made following the meeting.
• How do oil prices affect our lives? — “Medusa” card