Oil prices to dip further warns Goldman Sachs

Oil prices dipped on Tuesday as Saudi Arabia reported strong crude production figures and U.S. investment bank Goldman Sachs warned of further oil price declines.

Tuesday’s falls continued price declines on Monday and the previous week, and they came after Brent climbed 40 percent from its January lows, with many analysts saying upward momentum looks to have come to an end as production around the world continues to outpace demand.

Top oil exporter Saudi Arabia pumped 10.308 million barrels of oil per day in April, slightly less than in March but still close to record highs.

Top oil exporter Saudi Arabia pumped 10.308 million barrels of oil per day in April, slightly less than in March but still close to record highs.

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Posted in: Indian Market Tips