This morning, New York crude oil futures for WTI have fallen in price by 0.78% to $ 43.52 and Brent oil futures fell in price by -0.67% to $ 45.65 per barrel. Thus, the black gold is trading lower after Venezuela said that global shipments should be reduced by 10% to equal to the level of consumption. Venezuelan Oil Minister Eulogio del Pino said that global oil supply of 94 million barrels per day should be reduced by about one-tenth to match consumption.