nice Oil prices fell, on Friday, about 2% at settlement, extending the losses of the previous session, which were close to 2%, as concerns about fuel demand overcame the OPEC + decision to continue reducing oil production, which keeps supplies scarce.
Brent crude futures and US West Texas Intermediate crude fell about $10 per barrel in less than 10 days, after approaching $100 per barrel in late September.
The percentage of decline for both crude oils combined over the past two days is the highest since last May.”
Brent crude futures fell 1.74 cents, or 2.03 %, to $84.07 upon settlement, while US West Texas Intermediate crude fell 1.91 cents, or 2.3 %, to $82.31.
Oil prices had fallen by more than five dollars upon settlement, the day before yesterday, Wednesday, which was the largest daily decline in more than a year, even after the meeting of the Joint Ministerial Monitoring Committee of the OPEC + alliance, which includes the Organization of the Petroleum Exporting Countries (OPEC) and other allies led by… Russia”.
Source: National Iraqi News Agency