Slow Growth Prospect Sends Oil Prices Down Despite Supply Cuts
Friday, 8 February 2019 13:39 WIB | ENERGY |Minyak WTIMinyak jenis BrentMinyak WTI Berjangka

Oil prices took a dip on Friday in Asia despite reports of OPEC output cuts and U.S. sanction on Venezuela, as traders are still worried about the global economic slowdown.

The U.S. Crude Oil WTI Futures that dropped by around 2.5% in the previous session kept the downward trend on Friday and were trading at $52.21 per barrel at 11:11 PM EST (4:11 AM GMT), down 0.82%.

International Brent Oil Futures were down 0.67%, at $61.22 per barrel after falling 1.7% in the previous session.

Dampening the market is the possible negative impact of the unresolved disputes between China and the U.S. on the global economic growth prospect.

Source: reuters

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