Brent crude futures slipped seven cents to $84.82 a barrel by 1011 GMT, while U.S. West Texas Intermediate crude fell eight cents to $81.91
Oil prices were little changed on Wednesday as investors weighed worries about China’s embattled economy against expectations of tighter supply in the United States.
This July activity data has prompted concerns that China may struggle to meet its growth target of about 5 per cent for the year without more fiscal stimulus. Both the OPEC+ group, comprising the Organization of the Petroleum Exporting Countries and allies, and the International Energy Agency are banking on China – the world’s biggest oil importer – to galvanize crude demand over the rest of 2023.
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