Oil prices edge down as extended OPEC+ supply cuts highlight weak demand

Economy
  • 6-12-2024, 10:37
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    Follow up-INA

    Oil prices edged lower on Friday, with weak demand in focus after the OPEC+ group postponed planned supply increases and extended deep output cuts to the end of 2026.

    Brent crude futures fell 6 cents, or 0.1%, to $72.03 per barrel by 0336 GMT. U.S. West Texas Intermediate crude futures lost 1 cent to $68.29 per barrel.

    For the week, Brent was on track to drop more than 1%, while WTI hung on to a marginal 0.1% gain.
    Source- reuters

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