Oil prices extend rapid descent on demand worries

HOUSTON: Oil prices fell about 2% on Thursday, extending the previous session’s nearly 6% losses, as an uncertain demand outlook overshadowed an Opec+ decision to maintain oil output cuts, keeping supply tight.

Global benchmark Brent crude futures have declined about $10 a barrel in less than 10 days after edging close to $100 in late September.

The combined percentage drop over the last two days was the steepest since May for both crude benchmarks.