Oil drops slightly as Opec+ cuts seen as unlikely to work
There is some pick up in oil demand from China, however, and the US is likely to sharply drop its shale oil output
14 April 2020 - 13:04
London — Oil prices edged lower on Tuesday, with investors apparently unconvinced that record supply cuts could soon balance markets pummeled by the coronavirus pandemic, though a predicted plunge in US shale output provided some support.
Brent futures fell 25c, or 0.8%, to $31.49 a barrel by 8.25pm GMT after settling 0.8% higher on Monday. US West Texas Intermediate (WTI) crude was down 22c, or 1%, at $22.19, having dropped 1.5% in the previous session...
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