Oil Prices Rebound but Face Weekly Loss Amid Demand Concerns
TL;DR Summary
Crude oil futures rebounded from three-month lows on Friday but still ended the week with losses, as U.S. crude and Brent settled down 2.9% and 2.2% respectively. Despite the summer driving season starting, macroeconomic factors and overproduction by Russia have pressured prices. OPEC+ will review production policy in a virtual meeting on June 2, with expectations to maintain the current production ceiling.
- Oil prices bounce back from three-month lows, but still heading for weekly loss CNBC
- Latest Oil Market News and Analysis for May 24 Bloomberg
- Oil set for weekly loss as markets worry about demand Reuters
- Oil Prices Tumble as Demand Concerns Boost Bearish Sentiment OilPrice.com
- Oil prices heading for sharp weekly losses on interest rate, growth worries Investing.com
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