Weekly Fundamentals - Oil Agencies Warn over Further Price Fall Unless OPEC Cuts Output

The selloff in crude oil continued last week with the front-month WTI and Brent contracts losing -3.60% and -4.77% respectively. Brent crude even breached US$80/bbl last week. Weakness in oil prices over the past weeks has been driven by concerns about oversupply while the demand outlook has remained largely unchanged.

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Weekly Fundamentals - Oil Agencies Warn over Further Price Fall Unless OPEC Cuts Output