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Saturday, 03 June 2017 - 13:22
Fears over US oil production expanding rapidly
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Brent crude tumbled below 50 US Dollars yesterday, heading for a second straight week of losses.

This was based on worries that U.S. President Donald Trump's decision to abandon a climate pact could spark more crude drilling in the United States, worsening a global glut.

The U.S. withdrawal from the landmark 2015 global agreement to fight climate change drew condemnation from Washington's allies - and sparked fears that U.S. oil production could expand even more rapidly.

 

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