Oil prices dipped on Thursday as rising coronavirus cases continued to weigh on investor sentiment, and ahead of the monthly report from the Organization of Petroleum Exporting Countries (OPEC).
China reported its biggest daily jump in new COVID-19 cases in more than 10 months, with a team from the World Health Organization (WHO) expected to arrive in the country today, Jan. 14.
Separately, economic data revealed that China's import of crude oil rose 7.3% in 2020 despite the pandemic.
In terms of trading, international benchmark Brent crude was down 0.3% at $55.89 per barrel, at 9 am Makkah time.
WTI crude fell 0.1% to $52.85 a barrel.
The OPEC oil report for December is due to be released later today.
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