Oil prices edge down as traders assess China’s oil demand

Oil prices edge down as traders assess China’s oil demand

Oil is below more than 20% from its peaks in January after a coronavirus hit demand in the China and fueled concerns of excess supplies. Russia has, meanwhile, announced that it needed more time to decide on a recommendation to cut production by a further 600,000 barrels per day. Brent crude slipped to $53.63 a barrel, the lowest since January 2019, before recovering to $54.37 Monday.

Chris
Chris
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