Brent crude futures on Monday recorded a further drop in oil prices as it fell by 0.5 percent to $73.05 cents from its last close, showing a decline in price by 39 percent.
West Texas Intermediate crude features also fell by 1.3 percent leaving its selling price at $64.24 cents per barrel
The drop in oil prices is in reaction to possibilities of increased supply by the Organisation of Petroleum Exporting Countries and allies.
However, there would be a meeting in Vienna on June 22 for oil producers with the sole objective of deciding future production policy.
Image Credit: Bloomberg
