Reported 29 days ago
Oil prices fell over 4% on Tuesday, reaching their lowest levels since December 2021, following OPEC's downward revision of global demand growth for 2024 and 2025. The report highlighted weakened demand due to economic challenges in China, alongside a shift towards natural gas and subdued diesel consumption driven by a slowdown in manufacturing and construction. Analysts have also lowered their crude price targets amid concerns over soft demand in the U.S. and Europe, with expectations of falling gas prices as a result.
Source: YAHOO