Oil reports biggest annual drop since 2020, declines 10% in 2023 on demand-supply concerns; Brent sits at $77/bbl
Crude futures lost over 10 per cent in 2023 in a volatile year of trading and reported their biggest annual drop since 2020, marked by geopolitical conflict in the Middle East and concerns about the oil output levels of major producers around the world. Organisation of Petroleum Exporting Countries (OPEC) is currently cutting output by …