Oil Posts Biggest Weekly Loss Since February

摘要

Oil futures managed to slow their decline on Friday but posted significant weekly losses as the market focused on softer fundamentals and weaker equities. Higher Opec supply is one of several bearish factors weighing on prices, with output from Saudi Arabia and Libya boosting production. Meanwhile, sanctions on Iran are now expected to take less of a bite out of global supplies, with the US granting extensions to eight countries (OD Nov.1'18).