Possible second wave of Covid-19 cases pushes oil prices down
The EIA now expects world oil demand to fall by 8.1-million bpd compared with a previous forecast for a drop of 5.2-million bpd
13 May 2020 - 13:52
London — Oil prices fell on Wednesday as potential Opec+ plans to deepen supply cuts were overshadowed by demand concerns worsened by a possible second wave of coronavirus infections as countries ease lockdowns.
Brent crude dropped 56 US cents, or 1.9%, to $29.42 a barrel by 8.55am GMT, having risen 1.2% on Tuesday...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.