London. Oil prices were falling this Friday, trading around US $ 60 a barrel, as fear of the slowdown in the world economy and its impact on demand for crude oil exceeded the signs of easing in the trade dispute between the United States and China.
At 0920 GMT, Brent ceded 30 cents to $ 60.08 a barrel, while West Texas Intermediate dropped 28 cents to $ 54.81 a barrel.
The Organization of Petroleum Exporting Countries and the International Energy Agency (IEA) issued reports this week that point to an oversupply next year, despite an OPEC agreement to reduce supply.
The setback was contained by expectations of progress in the commercial struggle. Beijing and Washington are preparing for a new round of dialogue that seeks to curb the dispute and have been making conciliatory gestures, which has encouraged investors.
Brent has traded in a range of almost US $ 5 this week and would close it with its first loss in five weeks, although in the year the benchmark has risen 12%, aided by the agreement of the OPEC + alliance. The WTI, meanwhile, was on its way to its first weekly decline in three weeks.
Producers are trying to stop the accumulation of inventories and, in a sign that the plan is paying off, stocks in the United States fell last week to their lowest level in almost a year.
An OPEC + monitoring committee met this week and reiterated the commitment of Nigeria and Iraq, members of OPEC, to contribute their part in the agreement, but showed no progress in deepening the supply cut.
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