Weak Chinese Manufacturing Data Adds to Bearish Sentiment in Oil Markets ...Middle East

Economy by : (OILPRICE) -
Oil prices began the month of September with a drop in Asian trade, depressed by another weak reading of China’s official manufacturing activity data and signals from OPEC+ that it could proceed with unwinding some of the production cuts in October, as planned. Early on Monday morning in Europe, oil prices were down by around 0.5%, with Brent Crude prices falling to $76.54, and the U.S. benchmark, WTI Crude, down by 0.4% to $73.24 per barrel. Oil prices fell on reports that OPEC+ producers could start easing the ongoing cuts. Weak Chinese…

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