Oil falls on dented demand due to virus and Opec+ decision
Brent crude falls after five sessions of gains as Opec+ has yet to announce any new supply cuts
18 February 2020 - 12:41
London — Oil fell to below $57 a barrel on Tuesday, pressured by concerns over the effect of the coronavirus outbreak in China on oil demand and a lack of any further action by oil cartel Opec and its allies (Opec+) to support the market.
Forecasters, including the International Energy Agency (IEA), have cut 2020 oil demand estimates because of the virus. Global experts say it is too early to judge if the outbreak is being contained, despite a fall in new cases in mainland China...
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