Dubai August 15 2022: Oil prices dropped for a second session on Monday as weak China economic data triggered concerns about demand at the world’s largest crude importer while the head of the world’s top exporter, Saudi Aramco, said it was ready to ramp up output.
Brent crude futures fell $4.84, or 4.93%, to $93.31 a barrel by 1130 GMT after settling 1.5% lower on Friday. U.S. West Texas Intermediate crude was at $87.55 a barrel, down $4.54, or 4.93%, after a 2.4% drop in the previous session.
