Oil futures edged lower early Tuesday, unable to shake worries over China's economic outlook.
Oil futures edged lower early Tuesday, unable to shake worries about China’s economic outlook and the implications for demand from the world’s second-largest crude consumer.
But worries over China’s economy after a continued run of lackluster data have been amplified by problems in the country’s property sector, dimming the outlook for demand. Brent and WTI both fell more than 2% last week, ending a run of seven straight weekly gains. “The Russian situation, in our opinion, may force Russia to up its production causing a rift between OPEC+, leading to a breakdown of unity among OPEC+ producers,” he said.
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