Brent Crude slumps, COVID-19 fears dampens oil demand
Brent crude is the leading global benchmark for Atlantic basin crude oils.
Brent crude is the leading global benchmark for Atlantic basin crude oils.
Oil prices retreated further on Monday, with prices down more than 10% in less than a week.
Brent oil futures fell in an attempt to pull back some of its losses of about 8%.
Nigeria had previously failed at complying completely with its promised cuts in past months.
Recent dip is as a result of fears that a second wave of COVID-19 pandemic will disrupt the market.
Oil prices continued dropping as investors and traders weighed on oversupply prospects, dollar strengthening, and refining margins
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