Oil falls nearly 3% as over-supply concerns weigh
Thursday, 23 January 2020 02:52 WIB | ENERGY |Minyak BrentMinyak MentahMinyak WTI

Oil prices fell more than 2% on Wednesday as a market surplus forecast by the International Energy Agency (IEA) and demand worries outweighed concern over disruptions to Libya's crude output.

Brent crude was down $1.39, or 2.2%, at $63.20 per barrel. U.S. West Texas Intermediate crude fell 2.8%, or $1.64, to settle at $56.74 per barrel.

The head of the IEA, Fatih Birol, said he expects the market to be in surplus by 1 million barrels per day (bpd) in the first half of this year.

Source : Reuters

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