Oil slips towards 2-week low on gloomy demand outlook
November 13, 2024
(Investing) – Oil prices slipped on Wednesday, trading near their lowest in two weeks, a day after OPEC lowered global oil demand growth forecasts for 2024 and 2025 and amid demand concerns in China. OPEC cited weakness in China, India, and other regions for its decision, which marked the producer group’s fourth straight downward revision for 2024. Brent futures were 65 cents,
