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Oil prices fell on Friday and ended the week with losses, fears of a slowdown in global economic growth overshadowing the pace of progress in the US-China trade dispute.
Brent
Brent ends the week on a loss of 2.1%, the first in five weeks. US crude lost about 3% during the week when it first lost in three weeks.
The world's two largest economies are preparing for new negotiations and reconciling before the last round of negotiations.
China will exclude some agricultural products from additional tariffs on US products, the Xinhua official news agency said.
However, oil prices remain under pressure from concerns over a weaker outlook for crude demand which could lead to an oversupply of supply.
The Organization of the Petroleum Exporting Countries (OPEC) and the International Atomic Energy Agency (IAEA) said this week that oil markets could be oversupplied next year despite a deal to cut supplies between oil and gas. OPEC and its allies. But the growth of US oil production largely overshadowed these supply reductions.
Brent prices have risen about 12% since the beginning of 2019, thanks to the agreement of OPEC and its allies who have reduced their production by 1.2 million barrels a day. .
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