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OPEC
News and stories about OPEC
Crude oil prices drifted lower at the first trading session of the week.
Brent crude was down 48 cents, or 1.17%, after falling more than 3% on Thursday.
Six decades after the discovery of oil, can Nigeria continue to depend on the black gold as its mainstay?
Crude prices printed their third weekly loss in four at the end of its most recent trading session.
Oil benchmarks fell around 4% on Monday following rising concerns of increased coronavirus cases.
Both crude oil benchmarks remained above the $40-mark.
U.S. West Texas Intermediate felly by 1.57%, to trade at 39.53/barrel, after gaining 4.9% yesterday.
Crude oil prices are expected to recover slowly once economic activities rebound globally.
Tropical Storm Sally picked up its strength in the Gulf of Mexico, west of Florida yesterday.
Brent crude prices dropped 0.51% to trade at $40.58 a barrel, after rising 2.5% on Wednesday.
Both Crude oil benchmarks dropped more than 2% with WTI sliding to its lowest.
OPEC pumped 24.7 million barrels a day for the month of August.