Oil prices record $73.06 for Brent crude and $69.22 for US crude – Youm7

I signed up Oil prices Brent crude futures recorded $73.06 per barrel, and US West Texas Intermediate crude futures $69.22 per barrel when settled on Friday, as prices recorded a weekly loss of more than 7%.

Brent crude recorded a weekly loss of about 7%, and West Texas Intermediate crude recorded 8%, which is its biggest weekly decline since the second of last September, after the Organization of the Petroleum Exporting Countries (OPEC ) and the International Energy Agency reduce them. expected global demand for oil in 2024 and 2025.

The economy grew in Chinathe world’s largest oil importer, in the third quarter at the slowest pace since early 2023, but data on consumption and industrial production exceeded expectations last September.

China’s refinery output also fell for a sixth straight month on weakness Fuel consumption Refinement margins declined negatively on processing activity.

The US Energy Information Administration said crude production in the United States hit a record late last week, as output rose by 100,000 barrels per day in the week to October 11 to record 13.5 million barrels. each day after they record their peak. at 13.4 million barrels per day two months ago.