LONDON—Oil dropped by more than 1 percent on Monday after weaker than expected Chinese economic growth fuelled concern over demand in the world’s second-biggest oil consumer while a partial restart of halted Libyan output also pressured.
China’s gross domestic product (GDP) grew 6.3 percent year on year in the second quarter, compared with analyst forecasts of 7.3 percent, with its post-pandemic recovery faltering rapidly owing to weakening demand at home and abroad.
