Crude Oil Price News and Forecast: WTI prices came under pressure during the American trading hours
|WTI slumps to fresh multi-week lows below $57.50 despite large drop in US oil stocks
Crude oil prices came under pressure during the American trading hours on Wednesday with the barrel of West Texas Intermediate (WTI) dropping to its lowest level since early December at $57.38. As of writing, the WTI was trading at $57.40, erasing 1.22% on a daily basis.
OPEC raises 2020 oil demand growth outlook by 0.14 million bpd to 1.22 million bpd
The Organization of the Petroleum Exporting Countries (OPEC) has raised its forecast for global oil demand growth in 2020 by 0.14 million barrels per day (bpd) to 1.22 million bpd, the organization's latest oil market report showed.
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