- Markets found themselves torn once again between supply fears and a looming economic slowdown
- OPEC's oil production dropped to a four-year low of 30.17 million barrels per day (bpd) in May
The downward movement in oil prices last week seemed unjustified given the current strong market fundamentals, as markets found themselves torn once again between supply fears and a looming economic slowdown. The Brent crude price closed the week closer to $60 per barrel.
OPEC's oil production dropped to a four-year low of 30.17 million barrels per day (bpd) in May, according to a Reuters