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1. • • US oil futures notched their seventh straight week of declines on Friday, marking their longest losing streak in five years. The prolonged drop comes as analysts worry about increased production around the globe and shrug off the Organization of the Petroleum Exporting Countries’ promises to limit supply.
     Reference:

     Oil prices have been falling for seven weeks straight. Here’s why

2. People also ask

   Is a further drop in oil prices good economic news?

   • A further drop in oil prices would be “good” economic news, according to DataTrek Research co-founder Nicholas Colas. The recent decline in oil prices is not a sign that the U.S. economy is heading for a recession — with the downward trend instead considered positive for stocks, according to DataTrek Research.

   Why oil’s recent drop is not a recession signal — and good news for sto…

   www.marketwatch.com/story/why-oils-recent-drop-is-not-a-recession-signal-and-good-news-for-stocks-b592f19c

   See all results for this question

   Why are oil prices moving lower?

   • “One of the dynamics that I think has fueled oil prices moving lower is that production in the U.S. rose 5% or 6% over just a couple of weeks,” Adams said. Meanwhile, oil demand is also down in the U.S., where people are driving less, pushing gas prices lower, said Andrew Gross at AAA. “It’s fall, we’re seeing it every year.

   Why are oil prices suddenly dropping? - Marketplace

   www.marketplace.org/2023/10/06/why-are-oil-prices-suddenly-dropping/

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   Is crude oil demand going down?

   • In the near term, as far as the demand for crude oil markets, it’s been a little different. Last month imports fell by about 10% from the month prior, and there’s been a year-over-year drop of 9.3%. You’re seeing crude oil demand into China going down.

   Oil prices have been falling for seven weeks straight. Here’s why - CNN

   www.cnn.com/2023/12/11/investing/premarket-stocks-oil-gas-prices/index.html

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   Why are oil prices falling?

   • After global crude prices peaked near $100-a-barrel on September 27th, they started falling, hard. Cutting supply isn’t working to jack up prices anymore, said Bill Adams at Comerica Bank, because oil demand is dropping all over the world. “China’s economy’s having a really tough year, that weighs on Chinese energy demand.

   Why are oil prices suddenly dropping? - Marketplace

   www.marketplace.org/2023/10/06/why-are-oil-prices-suddenly-dropping/

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3. www.cnn.com › 2023/12/11 › investingOil prices have been falling for seven weeks straight. Here’s why

   www.cnn.com › 2023/12/11 › investing

   • Cached

   If we see a weakening economy, it will impact demand and send prices lower. But by and large, if you just look at history we have seen petroleum demand growth nearly every single year.

4. www.marketwatch.com › story › why-oils-recent-dropWhy oil’s recent drop is not a recession signal — and good ...

   www.marketwatch.com › story › why-oils-recent-drop

   Jun 4, 2024 · While oil prices do serve as a recession signal, it is “sudden spikes” that investors should worry about as “reliable indicators” that an economic contraction is nascent or arriving soon,...

   • Author: Christine Idzelis

   • Email: christine.idzelis@marketwatch.com

5. www.marketplace.org › 2023/10/06 › why-are-oilWhy are oil prices suddenly dropping? - Marketplace

   www.marketplace.org › 2023/10/06 › why-are-oil

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   Oct 6, 2023 · Since the end of September, Brent Crude — the global benchmark — has been sliding, down to the $84-a-barrel range. That’s more than a 10% decline in just over a week.

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7. www.marketwatch.com › story › why-oil-prices-justWhy oil prices just dropped to their lowest since July

   www.marketwatch.com › story › why-oil-prices-just

   Nov 7, 2023 · Oil’s price drop Tuesday to the lowest finish in three-and-a-half months may come as a surprise to traders focused on the risk of crude supply disruptions in the Middle East, but not so much...

8. www.cbc.ca › news › businessANALYSIS | Oil prices are rising — so why is Canada getting ...

   www.cbc.ca › news › business

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   Jun 8, 2022 · Analysis. Why high oil prices aren't creating an economic boom in Canada. Typically that discount is about $10-$15 US a barrel, but recent events have pushed the gap to beyond $20. That's the...

9. www.todayonline.com › singapore › explainer-why-didExplainer: Why did oil prices go from less than zero ... - TODAY

   www.todayonline.com › singapore › explainer-why-did

   • Cached

   Feb 7, 2022 · In 2020, when disagreements between oil-producing countries as well as reduced demand for oil during the Covid-19 pandemic drove oil prices to unprecedented low, experts said that it then...

10. oilprice.com › Energy › Oil-PricesWhy Oil Prices Fell After OPEC+ Announced Deeper Output Cuts

    oilprice.com › Energy › Oil-Prices

    • Cached

    Nov 30, 2023 · So why are we lower? Drowning in detail is how one trader put it to me. The additional cuts will be announced by OPEC+ members themselves. Others argue this is a repackaging of previously agreed...