Crude oil dips on faltering China economy, while U.S. crude stock builds
(Reuters) – Oil prices fell, pressured by low economic activity in leading crude importer China and a surprise build in U.S. crude oil inventories as producers ramped up output following frigid weather earlier in January.
The latest sign of the broader Chinese economy struggling to regain momentum came days after a court ordered the liquidation of troubled property developer China Evergrande.
The real estate sector accounts for a quarter of China’s GDP.
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