London-Sana
Oil prices fell today amid fears of a global recession, and weak demand for fuel.
Reuters reported that "Brent crude futures fell 76 cents, or 0.8 percent, to $ 93.81 a barrel, and West Texas Intermediate crude futures fell 85 cents, or 1%, to $ 88.26 a barrel."
The two crude prices fluctuated up and down today, but fell by more than four percent this week, after achieving two-week gains, due to concerns related to the global economy.
The International Energy Agency lowered its forecast for fuel demand for this year and next, and warned of a possible global recession.
The OPEC Plus group, which includes the Organization of Petroleum Exporting Countries (OPEC) and independent oil producers, including Russia, announced last week a reduction in oil production by two million barrels per day.
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