Global oil prices are expected to remain low in the near future according to analysts, even though the price has lately climbed to about 30 U.S. dollars a barrel.
On Monday, the West Texas Intermediate for March delivery moved down 1.85 U.S. dollars to settle at 30.34 dollars a barrel on the New York Mercantile Exchange, while Brent crude for March delivery decreased 1.68 dollars to close at 30.5 dollars a barrel on the London ICE Futures Exchange.
Crude oil prices began to recover when the United States faced a patch of extreme cold weather last week, while Europe raised hopes of more economic stimulus measures.
However, the global oil price has fallen by more than a quarter since the start of this year.
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