Oil fell in price after the president of the United States announced that Venezuela will sell the equivalent of two billion dollars in the commodity to the Americans.
Furthermore, the price of WTI crude oil fell by around half a percent, selling for less than 57 dollars per barrel. While Brent registers a drop of 0.3 percent at sixty dollars.
This movement happens because the trend is more oil being produced and traded in the world. Occurring first, in this negotiation of up to 50 million barrels between Venezuelans and Americans announced this Tuesday (6). But soon after, opening the way for Venezuela to reinforce its production, as there was a risk of a total shutdown due to the embargo promoted by the White House.
And, in the future, in the even greater growth in the exploration of the largest reserves in the world, depending on new consensus between Caracas and Washington and investments in Venezuelan infrastructure.
