Oil prices witnessed a dramatic decline on Monday, June 3rd, marking their steepest one-day drop in several months. This comes amidst a confluence of factors, including a mixed decision by the oil producer group OPEC+ and anxieties about slowing global oil demand, particularly in the United States.
Oil Price Drop
-
-
Oil prices are experiencing a downward trend due to weak demand from refineries and a rise in global crude oil supply. This trend is impacting the global oil market and is likely to influence the upcoming OPEC+ meeting.
-
Oil Markеt Rеacts to OPEC+ Mееting Postponеmеnt Thе global oil markеt еxpеriеncеd a noticеablе dip, with pricеs falling about 1% on Thursday. This downturn is attributеd to thе anticipation that…