Oil Prices At London Stock Exchange Plummet

Prices for oil plummeted at the London Stock Exchange on Friday after Russia had announced that it would cut output and exports by 50,000 barrels per day. The January futures price for a barrel of Brent oil has fallen to $18.6 or by $1.3. The February futures price is down 83 cents and is now $19 per barrel. Stock exchange analysts forecast that the oil prices will continue to fall, as Russia's cuts in output and exports will be smaller than expected.