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Oil Prices Fall on Concerns on China's GDP; Russia Misses Output Cut Target


Monday, 21 October 2019 12:39 WIB

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Oil prices fell on Monday in Asia amid continued concerns on China's weak GDP growth and reports that Russia missed its target to cut oil output in September.

U.S. Crude Oil WTI Futures slipped 0.1% to $53.80 by 1:05 AM ET (05:05 GMT). International Brent Oil Futures also fell 0.2% to $59.24.

Data on Friday showed China's GDP growth slowed to 6% year-on-year in the third quarter of 2019, less than what analysts expected.

Meanwhile, Russia said on the weekend that it produced more oil than expected in September due to an increase in gas condensate output as the country prepared for winter.

Source : Investing.com


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