Crude Slumped as IEA Lowered Demand Outlook while OPEC Showed No Intention to Cut Output

Crude oil extended the fall as International Energy Agency (IEA) revised lower its demand forecast and OPEC producers preferred maintaining market share or defending prices. the front-month contract for WTI crude oil plummeted to a new 2-year low of 81.32 before settling at 81.84, down -4.55%.

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Crude Slumped as IEA Lowered Demand Outlook while OPEC Showed No Intention to Cut Output