4 months Oil slips toward $60 on demand worries, despite trade hopes MB |Biz
By Reuters LONDON – Oil slipped to around $60 a barrel on Friday as concern about a slowdown in the global economy and oil demand outweighed hints of progress in the US-China trade dispute. Oil pump jacks work at sunset near Midland, Texas, US, August 21, 2019.(REUTERS / Jessica Lutz / MANILA BULLETIN) The Organization of the Petroleum Exporting Countries and the International Energy Agency (IEA) both issued reports this week pointing to an oil surplus next year, despite an OPEC-led pact to cut supply that runs until March. “Oil prices have been slipping in recent days even as stock ... more