WTI crude futures fell as investors continued to worry about the recession. This will affect the demand for oil. In addition, investors are worried about rising inflation. including China, the world’s largest importer of crude oil. Strictly implement measures to control the spread of COVID-19
As of 6:35 pm Thai time, the November West Texas Intermediate (WTI) crude oil contract was executed. Trading on the NYMEX was down $1.23, or 1.38%, to $87.88 a barrel.
(October 13) The International Energy Agency (IEA) warned that last week’s decision by OPEC Plus to cut oil production was “unbelievable.” has caused the price of oil to rise and may affect the world economy into recession
“The continued slowdown in the economy and higher oil prices are due to the OPEC+ oil cut plans. will reduce global demand for oil.”
“While in the face of continued inflationary pressures and increases in interest rates, higher oil prices could put the global economy on the verge of recession,” the IEA said in its monthly report.
