Saudia is preparing to abandon its unofficial price target of $100 a barrel as it plans output hike
SINGAPORE – Oil prices dropped on Thursday, reversing earlier gains, as news of top exporter Saudi Arabia giving up its crude oil price target in preparation for expanded production weighed on the market.
Oil prices had edged higher earlier in the session, as signs of firmer fuel demand and falling inventories in the United States, the world's top crude oil consumer, eclipsed worries over global demand prospects, particularly in China. The market shrugged off data that showed stronger demand in the United States, ANZ Research said in a note, as the Energy Information Administration reported that US oil inventories fell more-than-expected across the board last week.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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