Fears over supply glut drive oil down as Opec+ aims to up output
Group winds back production cuts while rising Covid-19 cases worldwide point to a slower pickup in fuel demand
03 August 2020 - 07:46
Tokyo — Oil prices fell on Monday on oversupply concerns as Opec and its allies wind back production cuts in August and a rise in worldwide Covid-19 cases points to a slower pickup in fuel demand.
Brent crude futures had slid 26c, or 0.6%, to $43.26 a barrel by 4.53am. US West Texas Intermediate (WTI) crude futures were down 29c, or 0.7%, at $39.98 a barrel...
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