Arab Canada News
News
Published: October 15, 2022
Oil prices ended the week with sharp declines, amid strong fears of a global recession and weak demand for oil, especially in China, which outweighed the support prices received from OPEC+ significantly cutting production targets.
During trading yesterday, Friday, October 14, 2022, Brent crude futures fell by $2.94, or 3.1 percent, to settle at $91.63 per barrel, while U.S. West Texas Intermediate crude futures declined by $3.50, or 3.9 percent, to $85.61.
Both Brent and West Texas Intermediate contracts fluctuated between gains and losses for most of Friday's session.
Over the week, Brent crude fell by 6.4 percent, while West Texas crude dropped by 7.6 percent.
Tuesday, 01 July 2025
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