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Home Steel News Global crude oil prices face pressure due to worry from demand
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Global crude oil prices face pressure due to worry from demand

14 Aug 2020 13:12 reported by Jordan Huang

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According to the result in the New York Mercantile Exchange on August 13th for September futures, the crude oil price had decreased by 1%, came to US$42.24/barrel.

The main reason for the decline was caused by the weak demand from the world, and which also encouraged the crude oil price on the Brent Crude to decrease with US$0.47/barrel on the same day, came to US$44.96/barrel.

By the prediction of OPEC, the global crude oil demand in 2020 might drop around 9 million barrels/day, which was mainly affected by the epidemic outbreak threaten from the beginning of this year.

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