img-news

China's weak data drags down oil prices

  • Regular
  • Economy
  • 6 months ago
  • 86

Oil prices took a plunge on the last session after weak Chinese imports and exports citing a slowdown in global demand.

Brent crude retreated by 2.5% to $59 per barrel while WTI crude slipped by 2.1% at $50.51 per barrel.

Although he recent cuts by OPEC members have managed to push the prices, weak Chinese data just goes to show how important the current trade talks between Washington and Beijing are having as an effect on global economy.

 

Source: Smart Trend Team