By January 14, 2019 0 Comments Read More →

Brent crude oil falls back to $60 on concerns about China slowdown

Brent crude oil slipped to around $60 a barrel on Monday after data showed weakening imports and exports in China, the world’s second-largest oil consumer, raising the prospect of a slowdown in fuel demand.

China’s exports fell by the most in two years in December while imports contracted, official figures showed, pointing to further weakness in what is also the world’s second-largest economy.

Brent crude, the international benchmark, fell 72 cents, or 1.2 percent, to $59.76 a barrel by 8:49 a.m. ET (1349 GMT), trading as low as $59.37 intraday. U.S. crude slipped 65 cents, or 1.3 percent, to $50.94.

Click Here For Remainder of Article

Posted in: Daily News

About the Author:

The Louisiana Oil & Gas Association (known before 2006 as LIOGA) was organized in 1992 to represent the Independent and service sectors of the oil and gas industry in Louisiana; this representation includes exploration, production and oilfield services. Our primary goal is to provide our industry with a working environment that will enhance the industry. LOGA services its membership by creating incentives for Louisiana’s oil & gas industry, warding off tax increases, changing existing burdensome regulations, and educating the public and government of the importance of the oil and gas industry in the state of Louisiana.

Post a Comment