(Bloomberg) — Oil eased in Asia after two weeks of gains, with escalating production cuts around the world starting to reduce the glut hanging over the market.Futures in New York fell 1.4%, after climbing 25% last week. Qatar Petroleum cut its official selling prices for April crude sales by 51%, the official Qatar News Agency reported, setting both grades at the lowest in more than twenty years. Oil prices have tumbled around 60% this year as Covid-19 lockdowns caused the biggest demand shock in a generation.Economic restrictions are starting to be eased around the world, offering some hope that a …read more
Source:: Yahoo Finance
