A toll on the commodity is demand china, the worlds largest oil importer and 2nd biggest consumer. So the importance of 9700000000. 00 barrels per day for the month of july, the 4th consecutive month below 10000000. 00 barrels per day. Now the concern about demands come following opec plus members agreeing to an Increase Output 5400000 barrels per day. Starting in august, if you will remember, the cartel made record cut in april of last year as a panoramic grip the globe. Now of course, despite the recent losses, it should be noted. Prices are up considerably since the start of the year when they were very low. So what is the outlook for oil amid these latest concerns . Got, lets bring an ad moyer, hes a senior Market Analyst with a landa add a pleasure to have you back on the show. I know its been quite a while. I want to start with the Price Action over the last week is, is all about this concern to, to demand from the co Delta Variant. Well, its a combination. I think the Delta Vari
Well go into the data and whaT It means for the global Supply Chain. We impact Show Today Dive right and we leave the program with oil as prices continue to fall monday, due to uncertainty surrounding the increase in new cases of the cove in 1900 delta. Very both brent Crude And West texas intermediate slid as much as 4 percent at point throughout the day following last weeks losses of more than 7 percent. The worst week for oil since october of last year. One major factor taking a toll on the commodity is demand china, the worlds largest oil importer and 2nd biggest consumer. So the importance of 9700000000. 00 barrels per day for the month of july, the 4th consecutive month below 10000000. 00 barrels per day. Now the concern about demand come following opec plus members agreeing to an Increase Output 5400000 barrels per day. Starting in august, if you will remember, the cartel made record cuts in april of last year as a panoramic grip the globe. Now of course, despite the recent loss
3rd boom bought the one business. So you cant afford to mit branch your board and im Rachel Blevins in washington. Coming up. Oil prices continue to fall. Just as opec water starts increases output, well take a look at how the latest drop in demand is having an impact on the industry. What could europe or versus policy allowing travel from us tour . It will bring you a livE Uptake from one of the countries requiring a Green Pass for indoor activity. And chinas economic recovery has begun to slow down as inflation. Emma Delta Variant take it for later on well go into the data and what it mean for the global Supply Chain. We in Fact Show Today whats dive right. And we leave the program with oil as prices continue to fall monday due to uncertainty surrounding the increase in new cases of the cove in 1900 delta. Very both brent Crude And West texas intermediate slate as much as 4 percent at points throughout the day. Following last weeks losses of more than 7 percent, the worst week for oi
The worlds largest oil importer and 2nd biggest consumer. So the imports of 9700000000. 00 barrels per day for the month of july, the 4th consecutive month below 10000000. 00 barrels per day. Now the concern about demand come following opec plus members agreeing to an Increase Output 5400000 barrels per day. Starting in august, if you will remember, the cartel made record cuts in april of last year as a panoramic grip the globe. Now of course, despite the recent losses, it should be noted, prices are up considerably since the start of the year when they were very low. So what is the outlook for oil amid these latest concerns . Got, lets bring in edmore, who the senior Market Analyst with atlanta at a pleasure to have you back on the show. I know its been quite a while. I want to start with the Price Action over the last week. Is this all about this concern to, to demand from the co Delta Variant . Well, its a combination. I think the delta vary has really started to weigh on the outloo
Down as inflation and the Delta Variant. Take it for later on, well go into the data and what it mean for the global Supply Chain with impact. So today puts Dive Right in and we leave the program with oil as prices continue to fall monday, due to uncertainty surrounding the increase in new cases. Of the coven, 1900 delta various. Both brent Crude And West texas intermediate slate as much as 4 percent points throughout the day. Following last weeks losses of more than 7 percent. The worst week for oil since october of last year. One major factor taking a toll on the commodity is demand china, the worlds largest oil importer and 2nd biggest consumer. So the imports of 9700000000. 00 barrels per day for the month of july, the 4th consecutive month below 10000000. 00 barrels per day. Now the concern about demands come following opec plus members agreeing to an Increase Output 5400000 barrel per day, starting in august. Or you will remember the cartel made record cuts in april of last year