Oil prices slipped on Monday after China posted its slowest quarterly economic growth in at least 27 years, reinforcing concerns about demand in the world’s largest crude oil importer.
Brent crude futures (LCO c1) for September fell 15 cents, or 0.2%, to $66.57 a barrel by 0611 GMT while U.S. crude (CL c1) for August was down 24 cents, or 0.4%, at $59.97 a barrel. Both contracts last week posted their biggest weekly gains in three weeks on cuts in U.S. oil production and diplomatic tensions in the Middle East.
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