Tuesday 5 March 2019

Oil drops as China cuts economic growth target, but OPEC-led cuts support | Reuters

Oil drops as China cuts economic growth target, but OPEC-led cuts support | Reuters:

Oil prices fell on Tuesday as China cut its 2019 economic growth target, dimming the outlook for fuel demand, although OPEC-led efforts to cut output still offered some support.

U.S. West Texas Intermediate (WTI) crude oil futures were at $56.31 per barrel at 0740 GMT, down 28 cents, or 0.5 percent, from their last settlement.

Brent crude futures were at $65.37 per barrel, down 30 cents, or 0.5 percent.

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