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Decline in the Oil Price Is 70% Trade War, 30% Supply
Trend likely to continue next year.
22 Oct 2019, 01:17 PM IST
(Bloomberg) --
Brent crude has fallen by a fifth since April. Bloomberg Economics estimates that weak demand -- linked to the impact of the trade war -- accounts for 70% of the decline. Abundant supply is responsible for the rest. This trend is likely to continue next year, posing a dilemma for the OPEC+ group of oil producers.
©2019 Bloomberg L.P.
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