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Oil sheds more than $1 as weakening demand outweighs stimulus hopes

FILE PHOTO: A pump jack operates in front of a drilling rig at sunset in an oil field in Texas
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NEW YORK (Reuters) - Oil prices dropped more than $1 a barrel on Thursday as a growing number of virus-related restrictions on travel slashed global fuel demand, overshadowing expectations that a $2 trillion (1.6 trillion pounds) U.S. stimulus package will bolster economic activity.The head of the International Energy Agency said worldwide oil demand could drop as much as 20 million barrels per..
Date Published: Mar 26, 2020
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