Mon, October 03, 2022

Commodities

Actuated control valve on offshore oil and gas central processing platform

Oil Stable on Sell-off, Stays under Pressure from Oversupply

On Wednesday, oil steadied following its biggest declines for years. However, it stayed under pressure from concerns such as oversupply and slowdown in the global economy, weakening the demand for fuel. As of 0840 GMT, there was a 30-cent increase in the Benchmark Brent crude oil at $56.56 a barrel. This followed after it made …

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