Oil Down Over Disappointing Chinese Data, Increased OPEC+ Oil Output By Investing.com – Investing.com

Oil Down Over Disappointing Chinese Data, Increased OPEC+ Oil Output By Investing.com – Investing.com

By Gina Lee

Investing.com – Oil was down Monday morning in Asia, as concerns over a slowing economic recovery in China, the second-largest oil consumer globally, clouded the fuel demand outlook. Investors were also looking ahead to the Organization of the Petroleum Exporting Countries and allies (OPEC+) increasing its oil output.

slid 1.05% to $74.62 by 1:12 AM ET (5:12 AM GMT) and fell 0.92% to $73.27.