Oil prices ease as market awaits China data to gauge demand

📆 07/11/2023 05:05:00
📰 ReutersAfrica

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Oil prices eased on Tuesday, giving up most of the gains from the previous day, on concerns over weak demand in China, with investors focusing on trade data due later in the day to gauge demand from the world's second-largest oil consumer.

Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford/File PhotoTOKYO, Nov 7 -

Both benchmarks gained about 30 cents on Monday after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end of the year. China will release its import and export figures for October on Tuesday at 0300 GMT, while key consumer price inflation data is due on Thursday.

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