Reported 6 months ago
Oil prices continued to decline in early trading as Brent crude futures fell 0.3% to $78.16 a barrel and U.S. West Texas Intermediate crude futures dropped 0.2% to $74.05. This comes after OPEC+ agreed to extend most oil output cuts into 2025 but allowed for gradual unwinding of voluntary cuts from October. Concerns about supply increasing later in the year, alongside signs of weakening demand growth and declining U.S. gasoline prices, have contributed to the downward pressure on oil prices.
Source: YAHOO