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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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Weak demand for fuel is causing oil prices to drop

rocky
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Weak demand for fuel is causing oil prices to drop Empty Weak demand for fuel is causing oil prices to drop

Post by rocky Tue 23 Mar 2021, 6:48 am

[size=35][size=35]Weak demand for fuel is causing oil prices to drop[/size]
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Economie

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2021-03-23 ​​| 03:12
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Oil prices fell by 1% today, Tuesday, due to weak demand for fuel and with producers cutting prices, as well as an ample supply of oil.



US West Texas Intermediate crude futures for May delivery were down 71 cents, or 1.12%, to $ 60.86 a barrel at 05:49 GMT.


May Brent crude futures fell 78 cents, or 1.21%, to $ 63.84, giving up gains of 9 cents in the previous session.







It is expected to be extended [You must be registered and logged in to see this link.]Europe's largest oil consumer has imposed restrictions on shopping and travel until April to contain the third wave of COVID-1 infections, prompting economists to cut their growth forecasts, and there is fear of a third wave of infections that may hit Europe.


Last week, the Paris-based International Energy Agency lowered its forecast for demand for crude in 2021 by 2.5 million barrels per day, while it expected[url=https://www.alsumaria.tv/Entity/105879751/%D9%88%D9%83%D8%A7%D9%84%D8%A9 %D9%85%D8%B9%D9%84%D9%88%D9%85%D8%A7%D8%AA %D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9/ar/]Energy Information Agency[/url] That global oil supply exceeds demand in the second half of 2021.

Also lowered [You must be registered and logged in to see this link.]Africa's largest oil producer, on Monday, reported official selling prices for April shipments, indicating that suppliers are trying to encourage sales. And still[You must be registered and logged in to see this link.]China, the continent's second largest producer and main supplier, has some April shipments still unsold, indicating a lack of interest in Chinese refiners.

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