US’ crude oil futures declines 2.5% due to oversupply worry
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Update time : 2020-11-16 19:03:31
According to the market in the world, the US’ crude oil futures showed a 2.5% decline on November 13th, mainly because of the increasing crude oil production in Libya.
By the local news, the total production of crude oil in Libya came to around 1.2 million barrels/day, higher than the market’s expectation.
Based on the high market supply and weak market demand, the market worried about the future, which caused the crude oil futures to decline sharply on November 13th.
