Oil slips on economic slowdown, as OPEC-led cuts still support vanguardngr.com vanguardnews
Brent crude oil futures LCOc1 were at 67.03 dollars per barrel at 0231 GMT, down 13 cents, or 0.2 per cent, from their last close, but not far off the 68.14 dollars per barrel 2019-high reached last week.
U.S. manufacturing output fell for a second straight month in February, in a sign that the world’s biggest economy has been slowing down in the first quarter.In Asia, Japan’s exports fell for a third straight month in February in a sign of growing strain from slowing global demand. The International Energy Agency said on Friday it expected oil markets to be in a modest deficit from the second quarter.
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