Oil Prices Drop as China Demand Data Disappoints

Oil Prices Drop as China Demand Data Disappoints
Pumpjacks are seen during sunset at the Daqing oil field in Heilongjiang Province, China, on Aug. 22, 2019. Stringer/Reuters
Reuters
Updated:

LONDON—Oil prices slid 2 percent on Monday after Chinese data showed that demand from the world’s largest crude importer remained lacklustre in September as strict COVID-19 policies and fuel export curbs depressed consumption.

Brent crude futures for December settlement fell $1.67, or 1.8 percent, to $91.83 a barrel by 0855 GMT after rising 2 percent last week. U.S. West Texas Intermediate crude for December delivery was at $83.27 a barrel, down $1.78, or 2.1 percent.