“U.S. crude oil falls nearly 3%, closes below $68 on report Saudi committed to production increase”
September 30, 2024
“…Prices are also under pressure on the expectation that oil production will rise in Libya. Factions in the North African country reached a deal Wednesday to appoint a new central bank governor. A political dispute over who should lead the bank has led to production disruptions.
The prospect of rising production is set against a backdrop of soft demand in China, the world’s largest crude importer and second-largest consumer. Oil prices rallied earlier in the week after Beijing announced a new stimulus package…”