WTI Outlook: Oil Price Remains in Red as Fears of Strong Fall in Demand Outweigh Output Cut Decision

<p>WTI oil price holds in red for the second day and fell to new over one-week low at $21.98 on Monday as overall sentiment remains weak. OPEC+ group reached a deal to reduce output by 9.7 million bpd (approx. 10% of daily production) but markets continue to worry that strong fall in global demand (April’s […]</p>
<p>The post <a rel="nofollow" href="https://www.actionforex.com/contributors/technical-analysis/286812-wti-outlook-oil-price-remains-in-red-as-fears-of-strong-fall-in-demand-outweigh-output-cut-decision/">WTI Outlook: Oil Price Remains in Red as Fears of Strong Fall in Demand Outweigh Output Cut Decision</a> appeared first on <a rel="nofollow" href="https://www.actionforex.com">Action Forex</a>.</p>