February 1, 2023

Today, on Monday, oil prices during the morning trading showed a noticeable decline compared to prices recorded in previous days.

Brent crude fell 36 cents, or 0.4%, to $84.92 a barrel by 01:16 GMT.

While West Texas Intermediate traded at $79.65 a barrel, shedding 21 cents, or 0.3 percent, amid weak trading during a public holiday in the United States.

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This comes amid expectations from trade sources and analysts that a recovery in domestic demand will lead to a 40% drop in China’s oil product exports in January compared to December.

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