Oil prices drop 3% on weak demand outlook and higher OPEC supplies

Topics Crude Oil Price | OPEC


By Devika Krishna Kumar NEW YORK (Reuters) - Oil prices fell 3% on Thursday as rising coronavirus cases around the world dampened the demand outlook, and a rise in OPEC output last month also pressured prices. Brent crude futures fell $1.37, or 3.2%, to settle at $40.93 a barrel after dropping to a low of $39.92. U.

S. West Texas Intermediate (WTI) crude futures ended down $1.50, or 3.7%, at $38.72 after sliding more than 6% to a session low of $37.61. "It has become evident that the virus has not been contained. Infection.....

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