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Article Summary
- Oil prices decline due to fading hurricane risk and weakening China demand
- Hurricane Laura's impact on oil production in the Gulf of Mexico
- China's slowing economic recovery affecting demand for oil
- OPEC+ production cuts not enough to support oil prices
- Potential for further decline in oil prices due to oversupply and weak demand Tone: Neutral
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Oil Prices Decline As Hurricane Risk Fades, China Demand Weakens
Oil prices retreated in Fridays session as fears of damage on oil and gas infrastructure in the U.S. Gulf by Hurricane Rafael receded. Concerns about weakening demand in China have also contributed to the oil price decline, after data showing crude imports in China fell 9% in October. That marked the sixth consecutive month that imports by the world's largest oil importer declined on a year-o...
https://oilprice.com/Latest-Energy-News/World-News...
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