Brent crude futures dropped 3.61 per cent, to $59.08 a barrel, while US West Texas Intermediate crude was at $56.00 a barrel, down by 3.93 per cent
OPEC
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OPEC
OPEC+: Saudi, UAE, Kuwait, Oman and others announce oil production increase
Eight OPEC+ countries, including Saudi, UAE, Kuwait and Oman, have agreed to increase oil production
crude oil price
Oil price up 1% as US vows to continue attacking Houthis
Oil prices rose slightly last week, snapping a three-week losing streak fed by concern over a global economic slowdown driven by escalating trade tension between the US and other nations
kuwait oil production
OPEC+ countries including Saudi, UAE, Kuwait and Oman extend voluntary oil production cuts
Saudi Arabia, UAE, Kuwait and Oman join OPEC+ members in extending voluntary oil production cuts
OPEC
UAE economy grows as real estate, tourism and manufacturing thrive: OPEC
OPEC forecasts growth of UAE economy as real estate, tourism and manufacturing thrive
geopolitical tensions
Oil prices hover near 8-month lows as US recession fears offset Middle East supply concerns
Slumping diesel consumption in China, the world’s biggest contributor to oil demand growth, is also weighing on global oil prices