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By Stephanie Kelly
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NEW YORK, Oct 16 (Reuters) - Oil prices edged lower on Friday, dragged down by concerns that a spike in COVID-19 cases in the United States and Europe will continue to drag on demand [[https://www.bestcasino77.com/wooricasino4%20 우리카지노계열사이트]] in two of the world's biggest fuel-consuming reg
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.<br>> OPEC+, a grouping of the Organization of the Petroleum Exporting Countries and allied producers including Russia, fear a prolonged second wave of the pandemic and a jump in Libyan output could push the oil market into surplus next year, according to a confidential document seen by Reuters, a much gloomier outlook than just a month
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.<br>> Brent crude futures fell 23 cents to settle at $42.93 a barrel, and U.S.
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image class="left" url="https://live.staticflickr.com/65535/50740390852_5b0e527eba.jpg"West Texas Intermediate (WTI) crude futures dropped 8 cents to se
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><br>88 a barrel. Brent rose 0.2% for the week, while WTI wa
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><br>o gain 0.7%. "The reality is that we're now seeing a pretty active spread of the pandemic across Europe and it's spreading again in North America, and that potentially will weigh on oil demand recovery," said Lachlan Shaw, head of commodity research at the Nat
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><br>f Australia. Some European countries were reviving curfews and lockdowns to fight a surge in new coronavirus cases, [[https://www.bestcasi[[http://dictionary.reference.com/browse/restrictions?s=ts restrictions
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ondon on Friday. A panel of officials from OPEC+, called the Joint Technical Committee, discussed their worst-case scenario during a virtual monthly meeting on Thursday. That involved commercial inventories from major world consumers remaining higher than the five-year average in 2021, rather than f
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below that mark. The group's Joint Ministerial Monitoring Committee (JMMC), 메리트카지노주소]][[https://www.bestcasino77.com/wooricasino3%20 메리트카지노주소]] will consider the outlook when it meets on Monday.
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Th
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an ma<br><br>licy recommendation. "We expect on Monday's meeting some strong words on compensating for (members') undercompliance," said Paola Rodriguez-Masiu, Rystad Energy's senior oil markets analyst. "What everybody is wondering is if there will be any action against the laggards this time or if t
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ng wi<br><br> at a verbal level." OPEC+ is set to ease its current supply cuts of 7.7 million barrels pe
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pd) b<br><br>lion bpd in January. In the United States, drillers have begun adding oil rigs since cutting them to a 15-year low in August.
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This week, they added the most oil rigs in a week since January, increasing the count by 12 to 205, energy services firm Baker Hughes Co said. <RIG-USA-BHI>, <RI
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-BHI&<br><br>t;RIG-GS-USA-BHI> Money managers cut their net long U.S. [[http://en.wiktionary.org/wiki/crude%20futures crude futures]] and options positions by 9,442 contracts to 288,454 in the week to Oct.
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13, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. (Reporting by Stephanie Kelly in New York; additional reporting by Dmitry Zhdannikov in London, 메리트카지노쿠폰 Yuka Obayashi in Tokyo and Florence Tan in Singapore Editing by David Goodm
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Louise Heaven<br>avid Gregorio and Tom Brown)