WASHINGTON (dpa-AFX) - Oil prices were flat to slightly lower on Monday after the latest GDP data from China confirmed a slowdown in the world's second largest economy.
Sentiment was also dented after the Bloomberg reported that the U.S. and China are making little progress on the key issue of intellectual property protection.
Global benchmark Brent crude was marginally lower at $62.67 a barrel while U.S. crude futures were down 0.2 percent at $54.08 a barrel.
China's GDP grew a seasonally adjusted 1.5 percent sequentially in the fourth quarter of 2018, in line with expectations and down from 1.6 percent in the third quarter.
On an annualized basis, GDP expanded 6.4 percent - again matching forecasts and down from 6.5 percent in the three months prior amid pressure from faltering domestic demand and bruising United States tariffs.
Growing signs of weakness in China fueled anxiety about risks to the world economy, but at the same time boosted expectations for more fiscal and monetary stimulus.
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