Oil Prices Start the Week Lower as Concerns About Chinese Demand Grow ...Middle East

OILPRICE - Economy
Oil Prices Start the Week Lower as Concerns About Chinese Demand Grow
source : OILPRICE ( Middle East ) () 24
Chinese oil demand is back in the spotlight, exerting pressure on oil prices to start the new trading week with a loss, extending losses booked last week. "Worries over weak demand in China outweighed the extension of supply cuts by OPEC+," a Nissan Securities analyst told Reuters. The worries came after the research arm of state-owned Chinese energy major CNPC forecast last week that China is entering a slow oil demand period thanks to the uptake of electric cars and LNG-fueled trucks. Growth in EV sales and LNG-powered trucks would…

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