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Supply glut brings down oil prices
May 1, 2020
Source: Reuters

Supply glut brings down oil prices

On Friday, oil prices went down due to weak demand and supply pressure on the market. Brent slipped by 1.7%, to $26.03 a barrel. WTI decreased by 2.4%, to $18.38 a barrel. “Crude demand is likely to disappoint even if the more optimistic demand recovery forecasts for end-user consumption materialise, due to the high inventory pressure that has built over the last month or so”, said JBC Energy.

   Read More About : Brent Price Oil Prices OPEC WTI Oil Demand
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