Forex News

Oil prices fell amid worries about demand

Oil prices fell on Friday amid fears that a slowdown in the global economy could reduce oil demand.

Brent crude futures fell 0.85 percent to $ 53.88 a barrel after falling 2.89

West Texas Intermediate (WTI) oil futures fell 0.4 percent to $ 45.70 per barrel and lost more than 10 percent in a week.

Because of concerns about demand and oversupply investors ignored media reports that the reduction in production of OPEC cat The campaign will start next month, will be stronger than expected.

Russian oil production reached a record level of 11.42 million barrels per day in December, while shale production in the United States is growing steadily, which makes investors think about whether OPEC supply cuts by 1 million to 1.3 million barrels per day are enough to stabilize the oil market.

Continued sales on global stock markets and the threat of closing the US government also increased economic uncertainty.

Is likely to be closed, after the president of the Donald Trump said that he does not want to sign a short-term spending plan approved by the Senate on Wednesday night because of a lack of funding its disputed border wall.