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Oil edges down as slowing China economy undermines markets


Monday, 21 January 2019 20:00 WIB

MinyakWTIBrentOil,Minyak Berjangka


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Oil prices edged lower on Monday, echoing a weaker tone on global stock markets after evidence that economic growth in China, the world's second-largest crude consumer, eased in 2018.

Brent crude oil futures LCOc1 were down 13 cents at $62.57 a barrel by 1207 GMT, while U.S. crude futures CLc1 lost 10 cents at $53.70 a barrel.

China's 2018 economic growth slowed to the weakest in 28 years, data showed, at 6.6 percent versus 6.8 percent in 2017.

Although the slowdown was in line with expectations and not as sharp as some analysts had expected, the cooling of the world's No.2 economy casts a shadow over global growth.

Source: Reuters


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