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StockNews.com
Business
Anushka Dutta

How Falling Oil Prices Will Impact These 3 Stocks

Oil CVX MRO LNG Natural Gas Chevron Corporation Recession

Investors are edgy about a U.S. interest rate hike later this month which is weighing down on oil prices. Moreover, recession fears are causing prices to drop despite a fall in crude exports from Russia and supply disruptions in Libya. Oil prices tumbled below the $100 mark.

Although oil demand has curbed a bit, the International Energy Agency (IEA) expects strong power generation use and recovery in China to provide an offset. Global oil demand is projected to rise by 1.7 mb/d in 2022, reaching 99.2 mb/d.

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