Oil settles over 4% lower, Brent below $78

14/03/2023 Argaam

Oil drilling rigs

Oil prices settled lower on March 14, after US inflation data and OPEC report.

 

OPEC kept its forecast of global oil demand growth unchanged for 2023.

 

The consumer price index rose 6% in February, the lowest level since September 2021.

 

Brent crude for May delivery dropped 4.1% to $77.45 a barrel.

 

WTI for April delivery shed 4.6% to $71.33 a barrel.

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