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1. • Growing concern over weak demand

     • The primary reason for prices falling so dramatically was the growing concern over weak demand. With fears of the U.S. entering a recession and weak economic data out of China, demand will continue to weigh on prices.
     Reference:

     Why Oil Prices Fell $10 in a Month | OilPrice.com

2. People also ask

   Why did oil prices drop on Friday?

   • Recession fears and a stronger U.S. Dollar both continued to weigh on oil prices. Oil prices continued to tank on Friday, posting a fourth straight week of declines and falling to their lowest level since January amid rising fears that a looming economic downturn will hurt global demand in energy markets.

   Oil Plunges To Lowest Level Since January—Here’s Why ... - Forbes

   www.forbes.com/sites/sergeiklebnikov/2022/09/23/oil-plunges-to-lowest-level-since-january-heres-why-experts-say-low-prices-wont-last/

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   Why did oil prices drop 10 a barrel?

   • Nov 26 (Reuters) - Oil prices plunged $10 a barrel on Friday, their largest one-day drop since April 2020, as a new variant of the coronavirus spooked investors and added to concerns that a supply surplus could swell in the first quarter. Oil fell with global equities markets on fears the variant, could dampen economic growth and fuel demand.

   Oil settles down $10/bbl in largest daily drop since April 2020

   www.reuters.com/markets/commodities/oil-skids-concerns-rising-surplus-q1-2021-11-26/

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   Why did oil prices fall ten-month lows?

   • Oil prices plummeted to ten-month lows Monday morning after stark warnings from Chinese officials shed light on the nation’s increasingly worrisome Covid outbreak—highlighting the uncertainty shrouding the global economy but also fueling hopes that gas prices may fall below $3 a gallon for the first time in 18 months.

   Oil Prices Plunge As Economic Woes Intensify—Here’s Why ... - Forbes

   www.forbes.com/sites/jonathanponciano/2022/11/21/oil-prices-plunge-as-economic-woes-intensify-heres-why-that-means-gas-prices-could-soon-fall-below-3-per-gallon/

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   Why are oil prices falling?

   • Surging energy prices pushed U.S. inflation to its highest level in 40 years, but global recession fears have since helped oil prices fall from 14-year highs. The price of Brent crude has fallen more than 30% since its high of about $130 per barrel in March.

   Oil Prices Plunge As Economic Woes Intensify—Here’s Why ... - Forbes

   www.forbes.com/sites/jonathanponciano/2022/11/21/oil-prices-plunge-as-economic-woes-intensify-heres-why-that-means-gas-prices-could-soon-fall-below-3-per-gallon/

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   Why did US crude oil futures drop a year?

   • U.S. and international crude oil futures skidded to their lowest levels in more than a year after the influential oil producing group cut its 2024 outlook, citing weakness in Chinese demand.

   Crude Oil Prices Fall to Lowest Level of 2024 as OPEC ... - Investopedia

   www.investopedia.com/crude-oil-prices-fall-opec-cuts-demand-outlook-8709624

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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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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

   Dec 11, 2023 · 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.

4. Videos

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     vox.com

     Why oil prices keep falling — and throwing the world into turmoil

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5. www.forbes.com › sites › gauravsharmaFree Falling: Why Oil Is Down By Nearly 10% In 2024 And Sliding

   www.forbes.com › sites › gauravsharma

   • Cached

   Aug 21, 2024 · Prevailing intraday prices implied a 12-month slump of nearly 10% for Brent and a 1% decline since January, indicative of a benchmark that has barely moved from the level it started the year...

6. www.reuters.com › markets › commoditiesOil settles down $10/bbl in largest daily drop since April ...

   www.reuters.com › markets › commodities

   Nov 26, 2021 · Nov 26 (Reuters) - Oil prices plunged $10 a barrel on Friday, their largest one-day drop since April 2020, as a new variant of the coronavirus spooked investors and added to concerns that a...

7. www.forbes.com › sites › sergeiklebnikovOil Plunges To Lowest Level Since January—Here’s Why Experts ...

   www.forbes.com › sites › sergeiklebnikov

   • Cached

   Sep 23, 2022 · Oil prices continued to tank on Friday, posting a fourth straight week of declines and falling to their lowest level since January amid rising fears that a looming economic downturn will hurt...

   • Author: Sergei Klebnikov

8. www.investopedia.com › crude-oil-prices-fall-opecCrude Oil Prices Fall to Lowest Level of 2024 as OPEC Cuts ...

   www.investopedia.com › crude-oil-prices-fall-opec

   • Cached

   Sep 10, 2024 · Key Takeaways. Crude oil futures slipped to multi-month lows Tuesday as OPEC cut its 2024 forecast, citing weakness in demand from China. Brent crude futures fell more than 4% Tuesday, slipping...

9. www.forbes.com › sites › jonathanponcianoOil Prices Plunge As Economic Woes Intensify—Here’s Why That ...

   www.forbes.com › sites › jonathanponciano

   • Cached

   Nov 21, 2022 · Oil prices plummeted to ten-month lows Monday morning after stark warnings from Chinese officials shed light on the nation’s increasingly worrisome Covid outbreak—highlighting the...