Crude oil prices to end this week on muted note as demand concerns drag; what to expect in coming week?
Crude oil prices end the week on a muted note due to weak Chinese data, outweighing the output decision by Saudi Arabia. OPEC+ reached a deal on output policy, reducing overall production targets from 2024 by a further total of 1.4 million bpd.
Crude oil prices traded firmly on Friday, however, are moving to end the current weekly performance on a muted note on a week-on-week basis. Weak Chinese data sparked worries about demand which outweighed the output decision by Saudi Arabia over the weekend. Nevertheless, the volatility in crude oil supported the rupee. In the coming week, investors will focus on inflation and Fed's rate decision.
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