Oil hits 13-mth low on weak Chinese demand, traders eye OPEC+ cuts
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NEW YORK (Reuters) - Oil prices fell to their lowest since January 2019 on Monday on weaker Chinese demand in the wake of the coronavirus outbreak and as traders waited to see if Russia would join other producers in seeking further output cuts.Oil has dropped over 25% from a peak in January after the spreading virus hit demand in China, the world's largest oil importer, and fuelled concerns of excess global supplies. Brent futures fell 99 cents, or 1.8%, to $53.48 a barrel by 12:05 p.m. EST..