By Srinivas Chowdary Sunkara // petrobazaar // 23rd January 2019.
Brent closed down at $61.5, a fall of $1.24 and WTI settled down at $52.57, shrank $1.6 a barrel last night. Both the crude markers slid around 2 pct yesterday as the oil markets reawakened the concerns on weakening oil demand indicated by the report of International monetary fund. Oil prices were drived down as the OPEC group could not convince the investor on its production cuts pact as the Saudis expressed displeasure over the output cuts by Russians which is lower than expected. Gloomy new global growth forecasts by the IMF and signs of a slowdown are spreading from China to U.S weighing on oil prices. Today, Asian markets opened flat and trading with a little gap up at the time of reporting. API weekly numbers are awaited. Good day.
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