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US crude sinks nearly 2%, settling at $55.70, on concerns about global demand and rising US output - CNBC
CNBC | US crude sinks nearly 2%, settling at $55.70, on concerns about global demand and rising US output CNBC The International Energy Agency cut its oil demand forecast for this year and next, citing warmer temperatures and sharply rising production outside OPEC. Oil futures fell as part of a commodities selloff as weak data from China slammed base metals prices. Don't write oil's 'obituary,' IEA says in long-term demand forecast Oil prices fall as rising US shale output undermines OPEC's supply cuts Oil Prices Nosedive On Bearish IEA Report |
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