💨 Abstract
Oil prices declined by 2% on Monday, erasing last week's gains, due to OPEC's lowering of its 2024 and 2025 global oil demand growth view and China's oil imports falling for a fifth straight month. China's stimulus plans failed to inspire confidence, and declining Chinese oil demand due to electric vehicles and slowing economic growth contributed to weak fuel demand.
Courtesy: theprint.in
Summarized by Einstein Beta 🤖
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