Oil prices fell by more than $5 a barrel on Thursday, on reports that US Preident Joe Biden could order the release of 180M barrels of oil from the country's strategic reserves. Brent is trading at around $107 a barrel and WTI at $101 a barrel, after slipping as low as $100. Concerns over supply constraints have also been eased due to a slowdown in China's industrial activity. Meanwhile, OPEC and its allies are convening today to discuss global oil supplies. The International Energy Agency and others have been calling on the cartel to raise output faster, to help rein in inflation.

Equiti Capital market analyst. David Madden joined us to discuss the details.

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