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[rtl]Date: Edit: 2019/10/21 8:34 • 40 times read[/rtl]
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Oil prices fell on Monday amid continuing concerns about the global economic outlook and the impact on oil demand.
Brent crude futures were down 10 cents, or 0.2 percent, at $ 59.32 a barrel by 0108 GMT.
US crude futures fell 9 cents, or 0.2 percent, to $ 53.69.
China's economic growth slowed to 6 percent year-on-year in the third quarter, the weakest growth in 27-and-a-half years and below expectations, due to lower factory production and continuing trade tensions.
However, the achievement of refinery production in China increased 9.4 percent year on year in September, indicates that demand for oil from the world's largest oil importer remains strong.
With regard to the supply of oil, Russia said it produced more oil in September than stipulated in a global agreement, due to an increase in gas condensate production as the country prepares for the winter, according to "Reuters".
https://alforatnews.com/modules/news/article.php?storyid=215815
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Global economic concerns are falling with oil prices
[/rtl][rtl]Date: Edit: 2019/10/21 8:34 • 40 times read[/rtl]
Oil prices fell on Monday amid continuing concerns about the global economic outlook and the impact on oil demand.
Brent crude futures were down 10 cents, or 0.2 percent, at $ 59.32 a barrel by 0108 GMT.
US crude futures fell 9 cents, or 0.2 percent, to $ 53.69.
China's economic growth slowed to 6 percent year-on-year in the third quarter, the weakest growth in 27-and-a-half years and below expectations, due to lower factory production and continuing trade tensions.
However, the achievement of refinery production in China increased 9.4 percent year on year in September, indicates that demand for oil from the world's largest oil importer remains strong.
With regard to the supply of oil, Russia said it produced more oil in September than stipulated in a global agreement, due to an increase in gas condensate production as the country prepares for the winter, according to "Reuters".
https://alforatnews.com/modules/news/article.php?storyid=215815
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