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Asharq Al-Awsat

Business

Asharq Al-Awsat

Oil Falls as Strong Dollar and Recession Fears Weigh

Oil OPEC Recession United States Russia China Covid-19 Inflation Texas

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, US, November 22, 2019. REUTERS/Angus Mordant

Oil futures fell on Wednesday as a gloomy economic outlook and a strong dollar outweighed supply concerns stemming from last week's OPEC+ cut to its production target.

Brent crude futures were down $1.42, or 1.5 %, at $92.87 a barrel by 1315 GMT.

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