Oil Prices Slide for 7th Week as Supply Glut, Weak Demand Weigh on Markets
• Oil prices headed for 7th straight weekly decline due to supply surplus and weak Chinese demand • Brent crude and WTI crude futures down around 5% for the week • Chinese crude imports fell 9% in November as demand slowed • Saudi Arabia and Russia call for more OPEC+ members to join output cuts • US crude output remains high, above 13 million barrels per day