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On Wednesday, international oil prices once fell by nearly %, but then recovered and recovered some of the previous losses. Beijing time: Brent crude oil was quoted at .USD/barrel, up .%. Crude oil was quoted at .USD/barrel, down .%.
OPEC sources said they expect oil prices to remain weak in the coming days and weeks, given the uncertainty about the global economic outlook and Trump's policy on the Middle East. One of the sources even bluntly said that oil prices are going to be ruined.
Another source pointed out that OPEC’s meeting at the end of the month is likely to be unable to have a strong impact on oil prices, even if the organization can reach an agreement to reduce production. The source believes that oil prices will not rise much from the current level.
Trump previously promised to double the U.S. economic growth, but also claimed that he would adopt trade protection policies after taking office. Amrita Sen, an energy consulting company, said
As Asia's economies rely heavily on trade with the United States, this policy will have a huge negative impact on Asia, thereby weakening economic growth and oil demand. (Regardless of policy,) at least the uncertainty created by Trump will do that.
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