Stay updated with breaking news from Pec . Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Oil prices dropped on Tuesday, losing for a fourth straight session, amid lingering concerns about the outlook for energy demand, and on disappointment over the quantum of additional output cut announced by OPEC+.
ALBAWABA – The US dollar slipped as oil prices edged slightly higher over the weekend through Sunday on OPEC+'s initial agreement to further cut output
ALBAWABA – Oil prices slid Monday as ambiguity shrouded OPEC+'s decision to enact additional output cuts, while the US Dollar struggled to pare its loss
Crude oil prices extended losses on Monday as uncertainty about the voluntary supply cuts by OPEC+ members announced last week weighed on sentiment. Concerns about global demand also weighed on sentiment.
OPEC+ announced production cuts to shore up flagging prices but Saudi Arabia might be quietly planning to flood the market with cheap oil, according to energy experts.