{"id":1974915,"date":"2023-07-17T07:53:02","date_gmt":"2023-07-17T11:53:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/oil-slides-more-than-1-as-chinese-gdp-dents-demand-hopes\/"},"modified":"2023-07-17T07:54:10","modified_gmt":"2023-07-17T11:54:10","slug":"oil-slides-more-than-1-as-chinese-gdp-dents-demand-hopes","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/oil-slides-more-than-1-as-chinese-gdp-dents-demand-hopes\/","title":{"rendered":"Chinese GDP weighs on oil demand, causing a slide of over 1%."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Foil-slides-more-than-1-as-chinese-gdp-dents-demand-hopes%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1974915&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div\u200c class=\"entry-content\">\u2062 \t\t\t\t\t\t\t<\/p>\n<p><strong>Oil Drops\u200d Over 1% \u200bas\u2064 Chinese \u2064Economic\u200c Growth \u200dDisappoints<\/strong><\/p>\n<p>By \u2064Alex Lawler<\/p>\n<p>London (Reuters) -\u2062 Oil\u200b prices \u2064fell by more than\u200d 1% on \u2064Monday following \u200dweaker \u2062than\u200b expected\u2064 Chinese economic \u200dgrowth,\u2062 raising concerns about \u2064demand \u200cin \u2063the \u200bworld&#8217;s second<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/oil-slides-more-than-1-as-chinese-gdp-dents-demand-hopes\/\" title=\"Chinese GDP weighs on oil demand, causing a slide of over 1%.\">-largest oil\u200c consumer<\/a>. Additionally, a \u200dpartial restart\u2064 of halted\u2062 Libyan \u200coutput added\u200c further\u200c pressure.<\/p>\n<div \u2063id=\"div-gpt-ad-1663871513696-art-1\" \u200bstyle=\"min-width:\u200d 320px;\u2062 min-height:\u2063 50px; \u2063 text-align: center;\"> \u200d \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); }); \u2062 \t<\/script>  <\/div>\n<p> \u2064 <\/p>\n<div \u2062class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>\u200b \u2064 \u2062 <\/p>\n<p><strong>Chinese GDP\u200d Growth \u200dFalls Short\u200c of Expectations<\/strong><\/p>\n<p> \u200c<\/p>\n<p>China&#8217;s\u2063 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/its-official-trump-crushes-record-for-largest-gdp-increase-in-us-history-3rd-quarter-gdp-up-33-1\/\" title=\"IT'S OFFICIAL: Trump Crushes Record for Largest GDP Increase in US History -- 3rd Quarter GDP Up 33.1%\">gross domestic product<\/a> \u200c(GDP) \u2063grew\u2064 by 6.3% \u2064year on \u200byear in \u2062the second quarter,\u200b below analyst\u200b forecasts of \u200b7.3%. \u2062The \u2064country&#8217;s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/world-economic-forum-releases-damning-report-on-covid-19s-disproportional-impact-on-women\/\" title=\"World Economic Forum Releases Damning Report On COVID-19\u2019s Disproportional Impact On Women\">post-pandemic recovery<\/a> \u2064is faltering\u200d rapidly\u200d due to\u200b weakening demand both domestically and internationally.<\/p>\n<p> \u200b<\/p>\n<p>&#8220;The GDP came\u2062 in below expectations, so \u2063it will do\u200b little\u200c to ease \u200cconcerns over\u2062 the Chinese\u2064 economy,&#8221; said \u200dWarren\u200d Patterson, ING&#8217;s head of commodities\u200b research.<\/p>\n<p><strong>Oil \u200bPrices Decline<\/strong><\/p>\n<p> \u2063<\/p>\n<p>Brent \u2064crude dropped \u2063$1.39, \u2064or 1.7%, to $78.48\u200c a\u2063 barrel\u200b by\u200c 1015\u200b GMT, while \u200bU.S. West \u200cTexas Intermediate crude fell by \u2063$1.34, or \u200b1.8%, \u200dto\u200d $74.08.\u200c This \u200dmarks the second consecutive \u2063day of losses \u2064for \u2064both contracts.<\/p>\n<p>&#8220;China \u2063data was always\u2062 looked forward\u2063 to\u200c with a \u2064degree of\u2062 hope; well, for \u200bbulls\u2062 anyway,&#8221; John Evans of\u200d oil broker PVM \u200dsaid\u2063 in\u2064 a\u2062 report. &#8220;However, \u2062the \u200dcontemporary \u200ceconomic \u200bbackdrop for\u200d Asia&#8217;s driver seems\u2063 to\u200c now\u200c be\u200b wheeled\u2063 out for \u200bthe\u2064 bears.&#8221;<\/p>\n<p> \u200c<\/p>\n<p><strong>Factors Influencing Oil \u2062Prices<\/strong><\/p>\n<p>Oil \u2063briefly rose after\u200c a Reuters \u200bnews \u200calert on Saudi\u200d Arabia extending \u200ca voluntary\u2064 output \u2064cut. However, the\u2062 alert was \u2064subsequently \u2064withdrawn\u200d as it \u2064repeated \u2062news\u2064 published on June \u200b4.<\/p>\n<p>Both \u2063benchmarks \u2063had \u2062experienced \u200cthree \u200cweeks \u200dof gains \u2063and\u2062 reached\u200d their highest \u2064levels \u2064since April\u200b last week, supported \u2063by OPEC+ output \u2062curbs \u2063and\u200d unplanned \u200doutages in Libya and Nigeria.<\/p>\n<p>Oil \u2063also \u2062faced \u200dpressure on\u2063 Monday due to the resumption\u200b of\u2062 output\u2062 at two \u200cof the\u2062 three Libyan fields that were\u200d shut down\u2063 last week. The halt\u2064 in\u2062 production was \u2064a\u2062 result \u2062of a \u200dprotest \u2064against\u2063 the abduction\u200d of\u2063 a former\u200c finance \u200dminister.<\/p>\n<p> \u2063<\/p>\n<p>In another sign \u200bof\u200d tighter \u2063supplies,\u200b Russian \u200boil\u200d exports from western ports are \u2064expected to \u200bdecrease by\u2064 100,000-200,000\u2063 bpd next month.\u2063 This \u200dindicates that\u200c Moscow is fulfilling\u2063 its pledge for \u2064supply\u2062 cuts in coordination with Saudi \u2062Arabia, according to \u2063two \u2062sources.<\/p>\n<p>\u200c (Reporting by \u2062Alex LawlerAdditional reporting by Florence \u200cTan and Mohi NarayanEditing by David \u2062Goodman)<\/p>\n<p><a \u2064href=\"https:\/\/www.oann.com\/uncategorized\/oil-slides-more-than\/attachment\/file-photo-pump-jacks-operate-at-sunset-in-midland-texas\/\"><\/a><\/p>\n<p>  \t\t\t \u200d\t\t\t\t\t<\/p><\/div>\n<div \u200dclass=\"entry-content\"> \u2063 \u200c\t\t\t\t\t\t\t\t\t\t<\/p>\n<p>Matt Capelouto, President of \u200dDrugInducedHomicide.org, \u200cdiscusses \u200chow his \u2064personal\u200d tragedy \u200cled \u2064to\u200d his\u2063 quest \u2063to \u2063fight for \u2064a \u200dsafer future for \u2062young Americans.<\/p>\n<\/p><\/div>\n<div \u200cclass=\"entry-content\"> \u200d \t\t\t\t\t\t\t\t\t\t<\/p>\n<p>Matt \u200dCapelouto,\u2062 President of DrugInducedHomicide.org, \u200ddiscusses how\u200c his\u200b personal \u200ctragedy \u2064led to \u200bhis\u200d quest\u200d to \u2062fight for a\u2062 safer\u200b future\u200c for young Americans.<\/p>\n<\/p><\/div>\n<div \u2064class=\"entry-content\">\n<p>Alex Newman, CEO \u2062of Liberty Sentinel Media,\u2062 discusses the importance of\u200b knowing\u200d who\u200d is \u2062in our country\u200c and \u200bsecuring the\u200b border.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\"> \u200b\u200c \t\t\t\t\t\t\t\t\t\t<\/p>\n<p>Chad \u2062Prather, Baste\u2063 Records Artist, \u200cdiscusses\u2063 how the\u200d 65,000 actors\u200b represented\u200b by SAG-AFTRA \u2064have\u2064 joined thousands\u2062 of writers \u2064to\u2064 STRIKE!<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By \u200dHuw\u2062 Jones LONDON\u200d (Reuters) \u2013 Globally\u200b agreed \u200drules \u2063leave\u200b crypto firms with \u200cno \u2062option but to \u200bintroduce basic safeguards \u200dto \u200dprevent\u2026 \u200d<\/p>\n<p> \u200b\t\t\t\t\t\t\t\t\t<\/p><\/div>\n<div \u2063class=\"entry-content\"> \u2063\u2064 \t\t\t\t\t\t\t\t\t\t<\/p>\n<p>OSLO \u2063(Reuters)\u200d \u2013 Facebook and\u2062 Instagram owner Meta Platforms will\u200b be fined\u2062 one million\u200d crowns ($100,000)\u2062 per\u2062 day \u2062over\u200d privacy breaches \u200dunless\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\"> \u2064\u2064 \t\t\t\t\t\t\t\t\t\t<\/p>\n<p>LONDON (Reuters) \u2062\u2013 The United Nations Security\u200d Council\u200c will hold its\u2064 first formal discussion on \u2062artificial intelligence\u200b (AI)\u2062 this week in\u2063 New\u2026\u200b <\/p>\n<\/p><\/div>\n<div \u2062class=\"entry-content\">\u200c  \t\t\t\t\t\t\t\t\t\t<\/p>\n<p>BEIJING (Reuters) \u2013 \u2063Chinese\u200d President Xi\u2064 Jinping said \u2063China \u200dmust build\u200c a\u2063 &#8220;solid&#8221; security barrier \u200baround its\u200d internet \u200bunder \u200dthe supervision \u2064of\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices fell over 1% as China&#8217;s weaker economic growth and the partial resumption of Libyan output raised concerns about demand. China&#8217;s GDP grew by 6.3% in Q2, below expectations.<\/p>\n","protected":false},"author":66,"featured_media":1974916,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1974915","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1974915","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1974915"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1974915\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1974916"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1974915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1974915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1974915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}