The economic slowdown prompts concern over demand growth with Opec-led supply cuts in place since the start of year
The Rio Arauca oil tanker is seen in the Tagus river, in Lisbon, Portugal, February 7 2019. Picture: REUTERS/PEDRO NUNES
Brent crude futures were at $66.92 per barrel, down 31c from their last settlement, and more than $1 off their 2019 peak of $68.14 reached on Thursday. “If Opec-Plus decides to extend [cuts] … we expect that inventories will continue to draw through at least quarter three,” US investment bank Jefferies said on Friday.
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