China's GDP Disappoints, Oil Prices Slide
TL;DR
Oil prices dropped over 1% as weaker than expected Chinese economic growth raised concerns about demand in the world's second-largest oil consumer. China's GDP grew 6.3% in Q2, falling short of analyst forecasts of 7.3%, due to weakening demand at home and abroad. The partial restart of halted Libyan output also added pressure to oil prices. Additionally, Russian oil exports from western ports are expected to decrease next month, signaling tighter supplies.
- Oil slides more than 1% as Chinese GDP dents demand hopes Reuters
- Oil down 1% on weak China GDP data, resumption of Libya output Yahoo Finance
- Oil Prices Dip As China's Economic Growth Disappoints OilPrice.com
- Oil slides from recent highs as China GDP underwhelms By Investing.com Investing.com
- Oil Fluctuates as China GDP Disappoints and Libya Supply Returns Yahoo Finance
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