The price of oil has soared since about two months earlier this year, and it is now falling drastically. There has been a worldwide fears that the price of oil may surpass $ 100 due to US sanctions on Iranian oil exports and a fall in the US stock market.
However, since this month, international oil prices have fallen sharply due to price declines due to oversupply concerns, and Iran's oil exports are being implemented, but the inclusion of countries that are excluded has led to a view that oil prices have not soared.
And next month, at a meeting between OPEC nations in the Middle East, oil production is scheduled to be cut to adjust oil prices. However, US president Trump urged Saudi Arabia not to cut production because he needs to lower international oil prices.
And oil-producing nations that are not members of OPEC now are considering cutbacks, as global oil supplies have steadily increased, and oil prices have fallen sharply in recent years.
Oil prices are expected to rise next month, following OPEC members 'meeting next month and other oil production nations' policies.
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