Oil set for monthly drop as Chinese demand, Fed meeting in focus

Prices on oil are heading towards a monthly decline, with traders currently focusing on projections for China’s energy demand and upcoming meetings in the Federal Reserve and among OPEC+ nations.

Photo: Pascal Rossignol/Reuters/Ritzau Scanpix

By Yongchang Chin, bloomberg news

Oil headed for a monthly loss as traders waited for more clues on the outlook for Chinese energy demand, a policy decision from the US Federal Reserve, and the latest guidance from cautious OPEC+ producers.

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