Oil Prices Climb But Bearish Sentiment Remains Strong

Oil prices were rising early on Friday morning but remain on course for a seventh consecutive weekly loss as demand concerns continue to drive bearish sentiment.Friday, December 8th, 2023With Chinese oil demand slowing down into Q4, OPEC+ production cuts failing to impress the oil market, and non-OPEC supply continuing to grow - with Guyana starting its third FPSO this month - the immediate outlook for oil prices is far from rosy. Both WTI and Brent fell to their lowest readings since June, falling below $69 and $74 per barrel, respectively,…