Oil prices fell in early trade on Wednesday. Brent crude futures fell 32 cents, or 0.7% to $44 a barrel, while US West Texas Intermediate (WTI) crude futures declined 33 cents, or 0.8%, to $41.59 a barrel.

 

OPEC and allies agreed last week to scale back oil production cuts from August to 7.7 million barrels per day until December as the global economy slowly recovers from the COVID-19 pandemic.

 

In addition, OPEC said in its monthly report that global oil demand will soar by a record 7 million barrels per day (mbpd) in 2021.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Related News

Saudi oil exports fall 41% to 6.02 mbpd in May 2020: JODI
OPEC+ expected to ease oil cuts as demand recovers: Saudi minister

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request