Oil dips as trade talks drag, China’s economy shows weakness

Factory activity in China, the world’s biggest oil importer, shrank for a third month in February as export orders fell at the fastest pace since the financial crisis a decade ago.

Lighthizer said issues with China were “too serious” to be resolved with promises from Beijing to purchase more U.S. goods and any deal needed to include a way to ensure commitments were met.

Crude prices have also been dragged down by surging U.S. oil production, rising more than 2 million barrels per day (bpd) in the past year to a record 12.1 million bpd.
more at source: https://www.reuters.com/article/us-global-oil/oil-dips-as-u-s-crude-production-hits-record-asia-factory-output-weakens-idUSKCN1QH043

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