Oil prices extend rapid descent on demand worries

Oil prices dropped by 2% as concerns about uncertain demand outweighed the decision by OPEC+ to maintain oil output cuts. Brent crude futures have fallen by about $10 per barrel in less than 10 days. The decline in oil prices comes after a significant drop of over $5 on Wednesday, the largest daily drop in over a year.

Oct 6, 2023 - 00:30
Oil prices extend rapid descent on demand worries
Oil prices dropped by 2% as concerns about uncertain demand outweighed the decision by OPEC+ to maintain oil output cuts. Brent crude futures have fallen by about $10 per barrel in less than 10 days. The decline in oil prices comes after a significant drop of over $5 on Wednesday, the largest daily drop in over a year.