Crude Oil Prices Weaken on Soft Demand Outlook

28 May 2013 28 May 2013

hzcapheret

Crude oil prices traded with a soft tone in Asian session as The UAE oil minister said that global demand will stay "relatively weak". The OPEC, a cartel controlling 40% of the world's oil production, will meet later today for the decision on oil supply. Asian shares slipped amid concerns about slowdown in Chinese economic growth and speculations of Fed's tapering of QE.