Oil Prices Fall 5% After IMF Cuts Growth Outlook

Author : desertsafari
Publish Date : 2022-04-27 00:00:00


Oil Prices Fall 5% After IMF Cuts Growth Outlook

Oil prices were down about 5% in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) cut its economic growth forecasts and warned of higher inflation. Brent crude, the global benchmark, fell $5.91, or 5.22%, to settle at $107.25 a barrel, while U.S. West Texas Intermediate dropped $5.65, or 5.22%, to settle at $102.56 a barrel. Prices declined despite lower output from OPEC+, which produced 1.45 million barrels per day (bpd) below its targets in March, as Russian output began to decrease following sanctions imposed by the West over its invasion of Ukraine, according to a report from the producer alliance seen by Reuters. Russia produced about 300,000 bpd below its target in March at 10.018 million bpd, based on secondary sources, the report showed. OPEC+, which groups OPEC and allies led by Russia, agreed last month to a monthly oil output boost of 432,000 bpd for May, resisting pressure by major consumers to pump more. The IMF lowered its forecast for global economic growth by nearly a full percentage point, citing Russia's invasion, and said that inflation is now a "clear and present danger" for many countries.

Oil prices were down about 5% in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) cut its economic growth forecasts and warned of higher inflation. Brent crude, the global benchmark, fell $5.91, or 5.22%, to settle at $107.25 a barrel, while U.S. West Texas Intermediate dropped $5.65, or 5.22%, to settle at $102.56 a barrel. Prices declined despite lower output from OPEC+, which produced 1.45 million barrels per day (bpd) below its targets in March, as Russian output began to decrease following sanctions imposed by the West over its invasion of Ukraine, according to a report from the producer alliance seen by Reuters. Russia produced about 300,000 bpd below its target in March at 10.018 million bpd, based on secondary sources, the report showed. OPEC+, which groups OPEC and allies led by Russia, agreed last month to a monthly oil output boost of 432,000 bpd for May, resisting pressure by major consumers to pump more. The IMF lowered its forecast for global economic growth by nearly a full percentage point, citing Russia's invasion, and said that inflation is now a "clear and present danger" for many countries.Oil prices were down about 5% in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) cut its economic growth forecasts and warned of higher inflation. Brent crude, the global benchmark, fell $5.91, or 5.22%, to settle at $107.25 a barrel, while U.S. West Texas Intermediate dropped $5.65, or 5.22%, to settle at $102.56 a barrel. Prices declined despite lower output from OPEC+, which produced 1.45 million barrels per day (bpd) below its targets in March, as Russian output began to decrease following sanctions imposed by the West over its invasion of Ukraine, according to a report from the producer alliance seen by Reuters. Russia produced about 300,000 bpd below its target in March at 10.018 million bpd, based on secondary sources, the report showed. OPEC+, which groups OPEC and allies led by Russia, agreed last month to a monthly oil output boost of 432,000 bpd for May, resisting pressure by major consumers to pump more. The IMF lowered its forecast for global economic growth by nearly a full percentage point, citing Russia's invasion, and said that inflation is now a "clear and present danger" for many countries.Oil prices were down about 5% in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) cut its economic growth forecasts and warned of higher inflation. Brent crude, the global benchmark, fell $5.91, or 5.22%, to settle at $107.25 a barrel, while U.S. West Texas Intermediate dropped $5.65, or 5.22%, to settle at $102.56 a barrel. Prices declined despite lower output from OPEC+, which produced 1.45 million barrels per day (bpd) below its targets in March, as Russian output began to decrease following sanctions imposed by the West over its invasion of Ukraine, according to a report from the producer alliance seen by Reuters. Russia produced about 300,000 bpd below its target in March at 10.018 million bpd, based on secondary sources, the report showed. OPEC+, which groups OPEC and allies led by Russia, agreed last month to a monthly oil output boost of 432,000 bpd for May, resisting pressure by major consumers to pump more. The IMF lowered its forecast for global economic growth by nearly a full percentage point, citing Russia's invasion, and said that inflation is now a "clear and present danger" for many countries.Oil prices were down about 5% in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) cut its economic growth forecasts and warned of higher inflation. Brent crude, the global benchmark, fell $5.91, or 5.22%, to settle at $107.25 a barrel, while U.S. West Texas Intermediate dropped $5.65, or 5.22%, to settle at $102.56 a barrel. Prices declined despite lower output from OPEC+, which produced 1.45 million barrels per day (bpd) below its targets in March, as Russian output began to decrease following sanctions imposed by the West over its invasion of Ukraine, according to a report from the producer alliance seen by Reuters. Russia produced about 300,000 bpd below its target in March at 10.018 million bpd, based on secondary sources, the report showed. OPEC+, which groups OPEC and allies led by Russia, agreed last month to a monthly oil output boost of 432,000 bpd for May, resisting pressure by major consumers to pump more. The IMF lowered its forecast for global economic growth by nearly a full percentage point, citing Russia's invasion, and said that inflation is now a "clear and present danger" for many countries.Oil prices were down about 5% in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) cut its economic growth forecasts and warned of higher inflation. Brent crude, the global benchmark, fell $5.91, or 5.22%, to settle at $107.25 a barrel, while U.S. West Texas Intermediate dropped $5.65, or 5.22%, to settle at $102.56 a barrel. Prices declined despite lower output from OPEC+, which produced 1.45 million barrels per day (bpd) below its targets in March, as Russian output began to decrease following sanctions imposed by the West over its invasion of Ukraine, according to a report from the producer alliance seen by Reuters. Russia produced about 300,000 bpd below its target in March at 10.018 million bpd, based on secondary sources, the report showed. OPEC+, which groups OPEC and allies led by Russia, agreed last month to a monthly oil output boost of 432,000 bpd for May, resisting pressure by major consumers to pump more. The IMF lowered its forecast for global economic growth by nearly a full percentage point, citing Russia's invasion, and said that inflation is now a "clear and present danger" for many countries.Oil prices were down about 5% in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) cut its economic growth forecasts and warned of higher inflation. Brent crude, the global benchmark, fell $5.91, or 5.22%, to settle at $107.25 a barrel, while U.S. West Texas Intermediate dropped $5.65, or 5.22%, to settle at $102.56 a barrel. Prices declined despite lower output from OPEC+, which produced 1.45 million barrels per day (bpd) below its targets in March, as Russian output began to decrease following sanctions imposed by the West over its invasion of Ukraine, according to a report from the producer alliance seen by Reuters. Russia produced about 300,000 bpd below its target in March at 10.018 million bpd, based on secondary sources, the report showed. OPEC+, which groups OPEC and allies led by Russia, agreed last month to a monthly oil output boost of 432,000 bpd for May, resisting pressure by major consumers to pump more. The IMF lowered its forecast for global economic growth by nearly a full percentage point, citing Russia's invasion, and said that inflation is now a "clear and present danger" for many countries.Oil prices were down about 5% in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) cut its economic growth forecasts and warned of higher inflation. Brent crude, the global benchmark, fell $5.91, or 5.22%, to settle at $107.25 a barrel, while U.S. West Texas Intermediate dropped $5.65, or 5.22%, to settle at $102.56 a barrel. Prices declined despite lower output from OPEC+, which produced 1.45 million barrels per day (bpd) below its targets in March, as Russian output began to decrease following sanctions imposed by the West over its invasion of Ukraine, according to a report from the producer alliance seen by Reuters. Russia produced about 300,000 bpd below its target in March at 10.018 million bpd, based on secondary sources, the report showed. OPEC+, which groups OPEC and allies led by Russia, agreed last month to a monthly oil output boost of 432,000 bpd for May, resisting pressure by major consumers to pump more. The IMF lowered its forecast for global economic growth by nearly a full percentage point, citing Russia's invasion, and said that inflation is now a "clear and present danger" for many countries.Oil prices were down about 5% in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) cut its economic growth forecasts and warned of higher inflation. Brent crude, the global benchmark, fell $5.91, or 5.22%, to settle at $107.25 a barrel, while U.S. West Texas Intermediate dropped $5.65, or 5.22%, to settle at $102.56 a barrel. Prices declined despite lower output from OPEC+, which produced 1.45 million barrels per day (bpd) below its targets in March, as Russian output began to decrease following sanctions imposed by the West over its invasion of Ukraine, according to a report from the producer alliance seen by Reuters. Russia produced about 300,000 bpd below its target in March at 10.018 million bpd, based on secondary sources, the report showed. OPEC+, which groups OPEC and allies led by Russia, agreed last month to a monthly oil output boost of 432,000 bpd for May, resisting pressure by major consumers to pump more. The IMF lowered its forecast for global economic growth by nearly a full percentage point, citing Russia's invasion, and said that inflation is now a "clear and present danger" for many countries.Oil prices were down about 5% in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) cut its economic growth forecasts and warned of higher inflation. Brent crude, the global benchmark, fell $5.91, or 5.22%, to settle at $107.25 a barrel, while U.S. West Texas Intermediate dropped $5.65, or 5.22%, to settle at $102.56 a barrel. Prices declined despite lower output from OPEC+, which produced 1.45 million barrels per day (bpd) below its targets in March, as Russian output began to decrease following sanctions imposed by the West over its invasion of Ukraine, according to a report from the producer alliance seen by Reuters. Russia produced about 300,000 bpd below its target in March at 10.018 million bpd, based on secondary sources, the report showed. OPEC+, which groups OPEC and allies led by Russia, agreed last month to a monthly oil output boost of 432,000 bpd for May, resisting pressure by major consumers to pump more. The IMF lowered its forecast for global economic growth by nearly a full percentage point, citing Russia's invasion, and said that inflation is now a "clear and present danger" for many countries.Oil prices were down about 5% in volatile trading on T



Category :travel

Belgian Footballer Miguel Van Damme Dies Aged 28

Belgian Footballer Miguel Van Damme Dies Aged 28

- Miguel Van Damme died after a long battle with leukemia. He made 40 appearances for Cercle Brugge.


Madhya Pradesh Board MPBSE 10th, 12th Results 2022 Release Date And Time Update; Heres What Officia

Madhya Pradesh Board MPBSE 10th, 12th Results 2022 Release Date And Time Update; Heres What Officia

- MPBSE 10th, 12th Results 2022: Controller, MP Board Balwant Verma told Careers360 that the evaluation process will


Sebi Exempts Centre From Making Open Offer To Vodafone Idea Shareholders

Sebi Exempts Centre From Making Open Offer To Vodafone Idea Shareholders

- The regulator noted that a substantial sum of money is due to be paid to the government by VIL, which may place a


Arunachal Pradesh Launches Online Course On Drug Abuse For Employees

Arunachal Pradesh Launches Online Course On Drug Abuse For Employees

- The 4-month course will consist of modules on understanding on substance abuse, types and harmful effects of