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Oil Prices Set For Worst Weekly Drop In Five Weeks | esicywowyq.tk

Concerns about weakening global economy and oil demand growth trumped simmering U. As of a. When OPEC and allies officially endorsed the extension of the cuts on Tuesday, oil prices plummeted by more than 4 percent in the worst reaction to an OPEC meeting in nearly five years, since November , as oil market participants were focused more on signs of weakening demand rather than on an extension that was almost a foregone conclusion.

Then on Wednesday, the EIA reported a draw of 1.


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On the economy and oil demand side, a second consecutive decline in new factory orders in the United States in May exacerbated concerns over the pace of the economy on Wednesday. Previous Post. The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.

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Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction. Discussion Headlines. Sanctions On Venezuela. In the past two weeks, temperature records have been broken in France, Alaska and Cuba; there have been wildfires in Germany, Spain, Sweden and Anchorage ; Chennai is among more than a dozen Indian cities running out of water; Russia is experiencing historic floods; Mexico experienced freak hailstorm that left Guadalajara streets more than a metre deep in ice; while the Chinese meteorological agency said records had been broken at 40 weather stations.

While Opec continues to insist oil is not responsible for climate chaos, campaigners feel they are finally winning the argument.

Fight for Oil: 100 Years in the Middle East (1/3)

Bill McKibben, the founder of Topics Greta Thunberg. Reuse this content. The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice. Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction. Discussion Headlines.


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