Oil price dropped by around 1 percent in 2019’s first trading on Wednesday, largely by increased U.S. output and concerns about an economic slowdown.
International Brent crude futures for March were at $53.27 per barrel at down 53 cents,from their final close of 2018.
West Texas Intermediate futures were at $45.01 per barrel, down 40 cents.
Dubai crude averaged $57.318 a barrel for December, the lowest since October 2017
