CRUDE OIL NEWS UPDATE ( www.trademaxindia.com) call@ 8218995526 , 8218997961

Oil prices drop as China economic slowdown threatens to spread

Oil prices fell on Tuesday on signs that an economic slowdown in China, the world’s second-largest economy and oil consumer, was spreading, stoking concerns over future fuel demand.

The gloomy economic news has pulled down financial markets across Asia, including crude oil futures.

China’s state planner on Tuesday warned that the downward pressure on the economy will affect China’s job market as falling factory orders point to a further drop in activity in coming months and more job shedding.

On Monday, China reported its lowest annual economic growth since 1990.

 

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