Oil Falls Below $44 a Barrel
A day after rising more than $3, oil prices fell back by about $2 to below $44 a barrel after China downplayed speculation its government would increase a stimulus plan to help its economy, Bloomberg reported.
Crude oil for $1.77 to settle at $43.61 a barrel on the New York Mercantile Exchange, after rising to more than $45 Wednesday, Bloomberg said. Prices are down 2.2% this year.
A Chinese official said an 8% growth rate was within reach this year, Bloomberg said.
OPEC, whose ministers are due to meet on March 15, cut its output by 2.7% in February, Bloomberg reported.