Oil holds steady on sluggish China growth
Brent crude futures inch higher after China and the US sign their phase 1 trade accord
17 January 2020 - 07:41
Singapore/Tokyo — Oil prices were steady on Friday as reports of sluggish economic growth in China, the world’s biggest crude importer, raised concerns about future fuel demand and countered optimism from the signing of the Sino-US trade deal earlier in the week.
In the fourth quarter of 2019, the world’s second-largest economy increased by an expected 6% from a year earlier, while the full-year expansion was 6.1%, the slowest in 29 years, government data showed on Friday...
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