What is Happening to Global Oil Prices?

Mon Oct 10 2022
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LONDON:  Price of oil products fell on Monday as investors watched to slowing economic activities in world’s one of the largest economy, China. Media reports that this trend revived a concern about falling global oil demand.

Media reported that services activity in China during September remained limited for the first time in four months as COVID-19 restrictions hit demand and business confidence.

The slowdown in the economy of China adds to growing concerns about a possible global recession.

The OPEC will squeeze supply in an already tight market while EU sanctions on Russian crude and oil products will take effect in December and February.

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