contractcrude oilin advancewest texas Closed Friday (October 14) down $3.50 as investors remain concernedrecession This will affect the demand for oil. In addition, investors are worried about the increase ofinflation including China, the world’s largest importer of crude oil. Strictly implement measures to control the spread of COVID-19
contractWest Texas crude oil Delivered in Nov. which is traded innymex market It was down $3.50, or 3.9%, to $85.61 a barrel.Brent crude oil It fell $2.94, or 3.1%, at $91.63 a barrel.
Yesterday (October 13), the International Energy Agency (IEA) warned that the group’s decisionOPEC PlusIn the last week to reduce oil production. has caused the price of oil to rise and may affectthe world economyinto recession
“The continued slowdown in the economy andoil priceThe higher caused by the OPEC Plus oil reduction plan. reduces global demand for oil. Faced with inflationary pressures and continued increases in interest rates, higher oil prices could put the global economy on the brink of recession,” the IEA said in its monthly report.
