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oil prices decline as chinese demand falters amid economic concerns

Oil prices declined this week, with Brent crude down 2.7% and WTI down 3.3%, as Chinese demand continues to underperform amid an uneven economic recovery. Major forecasters have indicated bearish market fundamentals, with the International Energy Agency predicting that global oil supply will exceed demand by 2025, despite OPEC+ cuts. Additionally, U.S. crude inventories rose significantly, while gasoline and distillate stocks fell unexpectedly.
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United States Dollar International Energy Agency National Bureau of Statistics Organization of the Petroleum Exporting Countries Opec USA RUS CHN Yeap Jun Rong Show more
Finance & Economy, Market Report
06:57 15.11.2024
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