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OIL PRICES FALL DUE TO INCREASING GLOBAL CRUDE OIL SURPLUS

Published On 07 May 2020 09:03 AM


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HIGHLIGHTS

  • Brent crude went down by 24 cents, or 0.8%, to $29.48 a barrel after falling at 4%.
  • Rising worldwide surplus of crude oil.
  • Sharp coronavirus-led slump in demand.

On Thursday oil prices extended losses as the industry dealt with the rising worldwide surplus of crude and the sharp coronavirus-led slump in demand, with the outlook still grey despite April data s....


Tags : Oil, price, decline, supply,
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