scorecardresearchOil Steadies Near $100 After Plunging on Recession Concerns

Oil Steadies Near $100 After Plunging on Recession Concerns

Updated: 06 Jul 2022, 08:04 AM IST
TL;DR.
Oil steadied near $100 a barrel as banks including Goldman Sachs Group Inc. said a plunge driven by fears a recession will hurt demand was overdone, and the outlook for energy consumption in China improved.
FILE PHOTO: Reservoirs for crude oil are seen at an oil rig of Ecuador's state oil company Petroamazonas, in Tiputini, Ecuador October 19, 2017.  REUTERS/Daniel Tapia/File Photo

FILE PHOTO: Reservoirs for crude oil are seen at an oil rig of Ecuador's state oil company Petroamazonas, in Tiputini, Ecuador October 19, 2017. REUTERS/Daniel Tapia/File Photo