• Contact Us
  • About Us
Sunday, March 26, 2023
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
Home Companies and Markets

Oil Falls On Greater Supply, Lower China Demand

metro by metro
September 1, 2022
in Companies and Markets, Oil & Gas
0
0
SHARES
0
VIEWS

Read Also

Citing Losses, Petrol Marketers Suspend Sale Of Fuel At All Filling Stations

Emefiele Rationalises CBN’s Ways and Means To FG

Confusion As FG Denies Increase In Pump Price Of Petrol, Fuel Scarcity Bites Harder 

 

Oil prices fell in early Asian trade on Thursday, led lower by increased supply and worries that the global economy could slow further with renewed restrictions to curb COVID-19 in China.

Brent crude futures fell 37 cents, or 0.4%, to $95.27 a barrel by 0006 GMT. U.S. West Texas Intermediate (WTI) crude futures fell 32 cents, or 0.4%, to $89.23 a barrel.

Recent market volatility has followed concerns about inadequate supply in the months after Russia’s invasion of Ukraine and as OPEC struggled to increase output.

However, production in both OPEC and the United States has risen to its highest level since the early days of the coronavirus pandemic.

 OPEC’s output hit 29.6 million barrels per day (bpd) in the most recent month, according to a Reuters survey, while U.S. output rose to 11.82 million bpd in June. Both are at their highest levels since April 2020.
ALSO READ:White House: China’s Actions Around Taiwan Provocative, Irresponsible
Meanwhile, China’s factory activity extended declines in August due to new COVID infections, the worst heat wave in decades and an embattled property sector that weighed on production, suggesting the economy will struggle to sustain momentum.

Finance ministers from the Group of Seven club of wealthy nations will discuss the U.S. Biden administration’s proposed price cap on Russian oil when they meet on Friday, the White House said.

Previous Post

How My Govt Tackled Four-Month ASUU Strike In One Night GEJ, Says President Was Involved 

Next Post

Rider, Passengers Risk Three-year Jail Term On Okada Ban Violation 

Related Posts

Citing Losses, Petrol Marketers Suspend Sale Of Fuel At All Filling Stations
Breaking

Citing Losses, Petrol Marketers Suspend Sale Of Fuel At All Filling Stations

February 7, 2023
Godwin Emefiele
Oil & Gas

Emefiele Rationalises CBN’s Ways and Means To FG

January 25, 2023
Confusion As FG Denies Increase In Pump Price Of Petrol, Fuel Scarcity Bites Harder 
Breaking

Confusion As FG Denies Increase In Pump Price Of Petrol, Fuel Scarcity Bites Harder 

January 21, 2023
Muhammadu Buhari
Oil & Gas

Fuel Scarcity: End Not In Sight As Volume Of Product Lifted By Marketers Has Dropped By 40%

January 20, 2023
Next Post
Rider, Passengers Risk Three-year Jail Term On Okada Ban Violation 

Rider, Passengers Risk Three-year Jail Term On Okada Ban Violation 

Banks comply with CBN’s Directive on weekend Services, Ration Cash To customers

Banks comply with CBN’s Directive on weekend Services, Ration Cash To customers

March 25, 2023
CBN

Cash Crunch : CBN Appeals To Customers For Patience, Confirms Evacuation Of Banknotes To DMBs

March 24, 2023
Federal High Court Reverses Ratification Of Joyce Oduah’s Suspension As NBA Secretary General

PEPC Grants Atiku, Peter Obi’s Request To Serve Petitions On Tinubu Through APC 

March 24, 2023
ADVERTISEMENT
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Go to mobile version