Crude Oil prices may retreat; test support at $82-80 per barrel

Quick Summary:

Recent economic data from across the region like Asia, Eurozone and the US are indicating an economic slow down ahead.

US crude oil production in the week ending June 28 was unchanged w/w at 13.2 million bpd, just below the recent record high of 13.3 million bpd.

Ther early survey for June production from Reuters showed OPECs output rose for a second consecutive month in June as group produced 26.70 mbpd, which weighed on oil prices.

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Category: BusinessFinance

Markets: IndiaIraqIsraelLebanonNigerNigeria

Topics: Crude oil outlook Key levels on mcx crude oil Crude oil outlook Mcx crude oil prices Wti curde oil futures

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Article Type: News Report

Published On: 2024-07-04 @ 10:56:31 (2 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

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