Oil dips on Chinese and U.S. data, but OPEC+ cuts limit fall
7/10/2023 10:30:00 AM
(Reuters) - Oil prices dipped on Monday after weak economic data from top consumers the United States and China, though expected crude supply cuts from Saudi Arabia and Russia limited losses.
Brent crude futures fell 19 cents, or 0.2%, to $78.28 a barrel by 1416 GMT.
U.S. West Texas Intermediate crude was down 24 cents, or 0.3%, at $73.62.
"Oil traders may be cautious ahead of the U.S. CPI and China's slew of economic data later this week," CMC Markets analyst Tina Teng said of inflation data due on Wednesday.
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