ALBAWABA - Oil prices opened lower Monday on news that China set a modest 5 percent target for economic growth this year.
The rate is lower than market expectation of 5.5 percent GDP growth in the world’s second- largest economy and oil consumer.
#Oil Prices Open Lower on Modest Chinese Growth Forecast. #QNA https://t.co/6Vuehzz5jh pic.twitter.com/TN00YREFFk
— Qatar News Agency (@QNAEnglish) March 6, 2023
Brent crude futureswere trading down $0.50 less, or 0.6 percent, at $85.33 a barrel at 0147 GMT.
U.S. West Texas Intermediate (WTI) crude futureswere down $0.46, or 0.6 percent, at $79.22 a barrel.
Oil prices open lower on modest Chinese growth forecast https://t.co/ArHrDVzIim pic.twitter.com/M18SAjU721
— Reuters (@Reuters) March 6, 2023
China’s outlook for 2023 was announced by Premier Li Keqiang Sunday at the opening of the National People's Congress, China's rubber-stamp legislature, his last such congress as premier.
Oil prices open lower on modest Chinese growth forecast https://t.co/Mb7SNEUzL6#equity #MutualFund#investing #mutualfunds
— Nifty Live NOW (@NiftyLiveNOW) March 6, 2023
