Crude oil prices declined on Monday amid concerns over the speed of demand recovery from coronavirus crisis, while data on China’s gross domestic product (GDP) growth in Q3 2020 fell below expectations.
According to official data, China’s GDP grew 4.9% in July-September from a year earlier, which is below the expected growth of 5.2%.
Meanwhile, OPEC+ technical committee will meet today, Oct. 19, to review the oil market.
In terms of trading, Brent crude was down 0.1% at $42.88 a barrel, at 8.55 am Makkah time.
US West Texas Intermediate (WTI) crude futures fell 0.2% to $40.82 a barrel.
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