Oil heads for weekly loss as slowdown worries outweigh supply cuts
Updated : February 08, 2019 02:56 PM IST
International Brent crude futures were down 14 cents at $61.49 per barrel at 0855 GMT. On the week, they are set for a loss of around 2 percent, the steepest weekly fall this year.
US President Donald Trump said on Thursday that he did not plan to meet Chinese President Xi Jinping before a March 1 deadline set by the two countries to strike a trade deal.
On Thursday, the European Commission sharply cut its forecasts for eurozone economic growth due to global trade tensions and an array of domestic challenges.
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