The dollar is expected to remain strong, with Brent crude falling to $37.30 a barrel, down $1.80, or about 4.5% from the previous session.
But that means there will be little immediate gain for oil companies.
Investors have been expecting to see some gains, but so far the price of oil has fallen sharply.
The oil price index for February, which measures the cost of oil to sell, has fallen by nearly 5% in the past 12 months, while the benchmark U.S. benchmark has fallen just 0.7%.
The drop in crude prices also has implications for the economy.
Oil prices have been declining because oil production has been declining at a record pace and because of the ongoing drought.
The price of Brent crude has fallen because of a glut in oil, according to Energy S.A., a market research firm.
That has led to lower oil prices for many consumers.
The price of U.K. crude oil has been on the decline.
Brent crude is used to transport crude oil, so its prices are more volatile, said Mark Zandi, chief economist at Moody’s Analytics.
The fall in the price could mean more expensive gasoline for drivers, but it will not affect the economic outlook, Zandi said.
Even though oil prices are lower than in past years, many companies will continue to invest in the U.B.C. economy and will keep pumping new crude to support demand, said Jefferies analyst Andrew Meares.
That means oil prices will continue rising, but in a way that is sustainable.
“You need to be looking at the long-term,” Meares said.