The price of crude oil fell on Monday as the growth of refining activities in China slowed, casting doubt on future demand for crude there, while rising oil production in the United States suggests supply will probably remain high.
Brent crude was trading at $ 51.92 a barrel by 0652 GMT, down 18 cents, or 0.4 percent from the previous close.
WTI fell 12 cents, or 0.3 percent, to $ 48.70 a barrel.
China's refineries increased 0.4 percent in July from a year ago to 45.5 million tonnes, or 10.71 million bpd, according to National Statistics Bureau data released on Monday.
According to Reuters calculations, it is the smallest amount on a daily basis since September 2016. Ended
Posting Permissions
Reply With Quote