scorecardresearchOil pares weekly drop as EU strives for price-cap compromise

Oil pares weekly drop as EU strives for price-cap compromise

Updated: 25 Nov 2022, 04:03 PM IST
TL;DR.
Oil pared a third weekly loss as the European Union weighed a higher-than-expected price cap on Russian crude and economic slowdown concerns threatened the demand outlook.
FILE - A pumpjack of Wintershall DEA extract crude oil at an old oil field in Emlichheim, Germany, on March 18, 2022. Stocks are opening lower on Wall Street on Tuesday, May 31, 2022,  and crude oil prices rose sharply after European leaders agreed to cut nearly all imports of oil from Russia over the next six months. ((AP Photo/Martin Meissner, File)

FILE - A pumpjack of Wintershall DEA extract crude oil at an old oil field in Emlichheim, Germany, on March 18, 2022. Stocks are opening lower on Wall Street on Tuesday, May 31, 2022, and crude oil prices rose sharply after European leaders agreed to cut nearly all imports of oil from Russia over the next six months. ((AP Photo/Martin Meissner, File)