Crude oil futures ended lower on Thursday amid worries about outlook for energy demand due to the continued surge in coronavirus cases in several states across the US and reports of tight lockdown measures in several countries across the world. Coronavirus cases are on the rise in the U.S. The governors of New York and California have warned of a crisis that is filling up hospitals. Data showing OPEC oil production climbed to a six-month high in November, rising by 25.21 million barrels per day, also weighed on crude oil prices.
Crude oil futures for January dropped $0.16 or 0.4 percent to settle at $45.60 a barrel on the New York Mercantile Exchange. February Brent crude settled roughly flat at $$48.84 a barrel on London's Intercontinental Exchange.