Crude Oil Prices Slip

Oil prices tumbled today for a second straight session amid lower global demand, which created in some pressure on oil prices.

OPEC's agreement with associated producers at the end of last week was to increase production limitations in early 2020.

Presently, oil trades at $58.66, which a decline of $0.21 or 0.36% from the previous close of $58.87.

The daily range is from $58.65 to $58.98, while the trading volume is 50.107K. Moreover, reported numbers on Sunday indicated in that exports from China in November retreat 1.1% from a year earlier.

This is happening in the wake of the continuing crisis between Washington and Beijing that has stymied global economic growth largely recovered.

In reality, 'OPEC+', which is the Organization of the Petroleum Exporting Countries (OPEC) and associated producers like Russia to further cut output from 1.2 million barrels per day (bpd) to 1.7 million bpd.