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Downbeat: Oil traders dwell on weaker demand growth at industry meets

From reuters.com

Oil executives and traders attending major industry gatherings in Singapore and Abu Dhabi this week have flagged deteriorating demand growth in key markets such as China and India for the rise of downbeat expectations for crude oil heading into 2020. A raft of disappointing data releases across key economies, including historically weak car sales in China and India and a contraction in China’s factory activity, have helped to fuel the gloomy tone. Benchmark crude oil prices have shed about $10 a barrel since April to just under $63 as the global economic malaise has set in. On Tuesday, the U.S. Energy Information ... (full story)

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  • Category: Fundamental Analysis