Oil prices slide as investors worry energy demand is slowing

Economy
  • 28-11-2022, 21:00
    • +A -A

    INA – SOURCES
     
    The U.S. benchmark, West Texas Intermediate, fell to about $80 a barrel from more than $90 at the start of the month.
     
    The global supply of oil appeared to be falling, but many oil traders think that the demand is heading down even faster. That’s because economic growth is slowing or turning negative in many countries, and the use of oil and petroleum products usually plummets in recessions.
     
    The drop in oil prices helped bring down U.S. gasoline prices, which will be welcome news to many people hitting the road for the holidays next week.

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