Oil prices drop due to low demand prediction from OPEC, IEA

| 309 | :   Twitter |   LinkedIn

Oil prices on Friday continued to drop following the prediction of a weak revival in transportation fuels for the first six months of the 2021 from the Organization of Petroleum Exporting Countries’ (OPEC) and with the International Energy Agency’s (IEA) concern over low oil demand.

Oil prices drop due to low demand prediction from OPEC, IEA

International benchmark Brent crude was trading at USD60.73 per barrel at 0606 GMT for a 0.67 percent decline after closing Thursday at USD61.14 a barrel.

American benchmark West Texas Intermediate (WTI) was at USD57.81 a barrel at the same time for a 0.74 percent decline after ending the past session at USD58.24 per barrel.

| 309 | :   Twitter |   LinkedIn

Source : Mena FN | Photocredit : Google

Follow Dubai Today

Subscribe Now

Enter your email address:

Topics Business, Oil
Topic Keywords # # # #

More from Business, Oil

Related News

Fans allowed to attend World Cup qualifiers in Dubai

Fans will be allowed to attend the 2022 World Cup and 2023 Asian Cup qualifying matches in Dubai this month, the UAE Football Association (UAEFA) announced on Tuesday.…

Dubai hotel bosses expect occupancy levels to rise above 60% this year

Half of hotel owners and operators in Dubai expect occupancy levels to rise above 60 percent this year, while three-quarters expect numbers to return to pre-Covid levels by…

Dubai real estate to see ‘big boom’ once Expo 2020 starts

New ownership and visa laws, a business-friendly environment, and highly successful Covid-19 vaccination drive have all helped Dubai retain investor confidence Favourable interest and mortgage rates, a highly…

Dubai Today Wiki

Popular Videos