A look at oil prices in July over the past 10 years

In July 2014, Brent crude was priced around $106 per barrel.

Three years and a production limit deal later, the benchmark grade’s prices have more than halved and were down to $48/bbl on July 23.

Analysts claim that the prices could slide further in the last week of the month, following OPEC and non-member producers meeting in Russia.

“The price of Brent oil should slide significantly below $50 again next week, as the committee monitoring production cuts is unlikely to indicate meaningful additional measures to limit supply,” Commerzbank bank said in a note.

Argaam has put together an overview of how prices of Brent crude have fluctuated over the past 10 years.