Brent oil saw its steepest weekly decline in a year.

◻️Brent oil prices fell 7.3%, the steepest weekly decline since October 2023, after OPEC revised its global oil demand forecast downward for three consecutive months.

◼️While the economic contraction in China has increased demand concerns, OPEC predicted that daily oil demand will be 104 million 140 thousand barrels this year.

◻️Brent oil closed at $72.87 on October 18. Experts say there will be excess supply in 2024.

✒️Ekotürk