Categories: Business

Oil Updates — Crude down; Iraq exports over $115bn of oil in 2022


Wed, 2023-01-04 08:51

RIYADH: Oil edged lower on Wednesday after slumping in the previous session, weighed down by concerns about weak demand due to the state of the global economy. 

Brent futures for March delivery fell 13 cents to $81.97 a barrel, a 0.1 percent loss, by 0511 GMT. US crude dropped 28 cents, or 0.3 percent, to $76.65 per barrel. 

Both benchmarks plunged more than 4 percent on Tuesday, with Brent suffering its biggest one-day loss in more than three months. 

Chevron to send 500,000-barrel cargo of Venezuelan oil to its Pascagoula refinery 

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