This week, Brent crude oil plummeted 8.3% and WTI crude oil fell 7.5%.

International oil prices fell by more than 1% on Friday. This week, Brent crude oil fell by a cumulative 8.3% and WTI crude oil fell by 7.5%, both recording their biggest weekly decline since the end of March. The Organization of the Petroleum Exporting Countries and its allies held an early meeting to discuss production plans for June, causing market anxiety. On Friday, the June WTI crude oil contract on the New York Mercantile Exchange fell by 1.6% to close at $58.29 per barrel. The July Brent crude oil contract fell by 1.35% to close at $61.29 per barrel. This week, Brent crude oil fell by more than 8.3% and WTI crude oil fell by 7.5%, both recording their biggest weekly decline since the end of March.