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Oil falls on demand concerns as impact of Russian output cut fades
Oil falls on demand concerns as impact of Russian output cut fades
Oil prices may resume their rally back to $100 a barrel later this year on China's demand recovery and limited supply growth due to a lack of investment, OPEC country officials told Reuters.In the United States, the world's biggest oil producer, the number of operating oil rigs rose by 10 to 609 last week, the largest weekly addition since June, according to Baker Hughes report on Friday.
Oil prices may resume their rally back to $100 a barrel later this year on China's demand recovery and limited supply growth due to a lack of investment, OPEC country officials told Reuters.In the United States, the world's biggest oil producer, the number of operating oil rigs rose by 10 to 609 last week, the largest weekly addition since June, according to Baker Hughes report on Friday.
Oil prices may resume their rally back to $100 a barrel later this year on China's demand recovery and limited supply growth due to a lack of investment, OPEC country officials told Reuters.In the United States, the world's biggest oil producer, the number of operating oil rigs rose by 10 to 609 last week, the largest weekly addition since June, according to Baker Hughes report on Friday. 
