Oil markets dogged by recession fears as OPEC attempts to calm investors

摘要

LONDON (ICIS)--Global oil markets remain cowed by fears of recession as proposals put forward by cartel OPEC to drastically cut output further in the face of projected plummeting demand growth failed to arrest oil price falls in early Friday trading. OPEC announced plans on Thursday for deeper production cuts. Forecasts for oil demand growth this year have become increasingly bearish as the impact of the coronavirus outbreak has continued to disrupt markets.