By Muyu Xu SINGAPORE (Reuters) -Oil edged lower on Tuesday as the market waited to see if Iraqi oil exports resume, which could ease the supply tightness ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSSINGAPORE -Oil edged lower on Tuesday as the market waited to see if Iraqi oil exports resume, which could ease the supply tightness caused by the OPEC+ cut, while a faltering Chinese economy continued to undercut the global demand outlook.
Iraq's oil minister Hayan Abdel-Ghani arrived in the Turkish capital Ankara to discuss several issues including the resumption of oil exports through the Ceyhan oil terminal, a source in the minister's office told Reuters on Monday. Meanwhile, gloom over the economic outlook in China, the world's second biggest oil consumer, continued to pressure oil prices and heighten worries about fuel demand.
J.P.Morgan analysts estimated that global demand growth for mobility fuels decelerated to 0.6 mbd year-on-year for the reference week ending August 12.
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