Oil prices drop as trade war concerns haunt market - Reuters

Oil prices drop as trade war concerns haunt market - Reuters:

Oil prices slipped for a second straight session on Tuesday as a slowing global demand outlook outweighed OPEC’s deal with associated producers last week to deepen output cuts in 2020.

Brent crude was down 17 cents, or 0.3%, at $64.08 per barrel by 0954 GMT while West Texas Intermediate oil was down 21 cents, or 0.4%, lower at $58.81 a barrel. 


The benchmarks fell 0.2% and 0.3% respectively on Monday.

Last week, the Organization of the Petroleum Exporting Countries (OPEC) and associated producers like Russia agreed to deepen output cuts from 1.2 million barrels per day (bpd) to 1.7 million bpd to support prices.