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Oil drops as market awaits news on trade talks, oversupply concerns weigh

Tuesday, November 12, 2019, 10:56 AM

US oil prices fell for a second day on Tuesday, weighed down by uncertainty over whether US-China trade talks are making much progress, while higher Saudi Arabian crude output reinforced concerns about oversupply. US West Texas Intermediate (WTI) crude was down 18 cents, or 0.3 percent, at USD 56.68 a barrel. The contract dropped 0.7 percent in the previous session.
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Asian markets mixed as oil prices surge

Monday, September 16, 2019, 8:24 PM

Asian stock markets were mixed on Monday after crude prices surged following an attack on Saudi Arabia's biggest oil processing facility. Hong Kong's benchmark tumbled 1.1% while Seoul advanced and Shanghai and Sydney were little-changed. Japanese markets were closed for a holiday. The S&P 500 index slipped 0.1% to 3,007.39. The Dow Jones Industrial Average rose 0.1% to 27,219.52.
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Goldman Sachs cuts 2019 oil demand growth forecast to 1 million bpd

Wednesday, September 11, 2019, 7:59 AM

Goldman Sachs has lowered its forecast on 2019 oil demand growth, citing reduced demand from India, Japan, other non-OECD Asian regions, the Middle East and Latin America. The Wall Street bank revised its forecast down to 1 million barrels per day (bpd), from 1.1 million bpd but left its 2020 demand growth estimate broadly unchanged at 1.4 million bpd.

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