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Oil slide more than 10% after UAE support output hikesOil slide more than 10% after UAE support output hikes |
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International benchmarks for crude oil nosedived on Wednesday, 10 March 2022 after the United Arab Emirates called on other OPEC+ members to increase production outputs faster while Ukraine said it is ready to consider some compromises to resolve the war with Russia.
Brent fell $16.84 or 13.2% to settle at $111.14/barrel.
WTI slid $15.44 or 12.5% to close at $108.70/barrel.
