U.S. crude oil prices fall 5% as supply grows amid demand worries
Publishing timestamp: 2023-11-16 12:53:15
Summary
U.S. crude prices fell 5% due to rising inventories and falling industrial production. Slowing demand in China and increased oil production in various countries are also contributing to the decline. OPEC blames speculators for the drop in prices and will discuss the situation at its upcoming meeting.
Sentiment: MIXED
Keywords: ice brent crude (apr'23), biotech and pharmaceuticals, politics, breaking news: business, oil and gas, business, markets, u.s. economy, breaking news: markets, business news, breaking news: politics, wti crude (mar'23), biotechnology, health care industry,
Source: https://www.cnbc.com/2023/11/16/us-crude-prices-fall-nearly-4percent-as-inventories-rise-.html