International crude oil prices traded flat on Friday after a surge in the previous session due to concerns of supply disruption, with Brent trading at $81.40 per barrel and WTI at $76.90 per barrel. The International Energy Agency (IEA) stated that global demand this year will not grow as fast as previously projected, but OPEC expects a tighter global oil market in 2024. Analysts noted that although crude traded flat, sentiments remain bullish amid concerns of falling supplies, particularly in Russia.
China’s second release from its state oil reserves could again amount to around 7.38 million barrels following a 50 million barrel commitment from US President Joe Biden.
Mena s trade recovery: Hanging in the balance amid numerous downside risks gtreview.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gtreview.com Daily Mail and Mail on Sunday newspapers.