Tuesday, 02 January 2024 12:17 GMT

Oil Prices Drip-What Is Fueling The Fall?


(MENAFN- Gulf Times) Oil prices are falling, but what does it really mean? Brent Crude is trading near $64 a barrel, and WTI around $60, marking the lowest levels in weeks, and a 10–15% drop from earlier this year. So, what's driving the dip?Oversupply meets weak demand OPEC+ continues pumping, and U.S. stockpiles just jumped by 5.2 million barrels ripple effect? Oil-dependent economies tighten budgets, global markets adjust, and energy giants rethink investments industries and consumers, it's a mixed bag: cheaper fuel, but shifting dynamics across economies our latest Business Focus explainer to understand how oil prices shape politics, profits, and your wallet, all in under 90 minutes.

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Gulf Times

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