{"id":114181,"date":"2024-03-05T20:49:26","date_gmt":"2024-03-05T20:49:26","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/oil-prices-down-over-demand-outlook-concerns-in-china"},"modified":"2024-03-05T21:22:23","modified_gmt":"2024-03-05T21:22:23","slug":"oil-prices-down-over-demand-outlook-concerns-in-china","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/oil-prices-down-over-demand-outlook-concerns-in-china","title":{"rendered":"Oil prices down over demand outlook concerns in China"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>Oil prices decreased on Tuesday amid concerns over the demand outlook in China, the world’s biggest crude importer, after the country set a growth target that experts believe will be harder to reach.<\/p>\n

International benchmark Brent crude traded at $82.41 per barrel at 10.21 a.m. local time (0721 GMT) for a 0.47% decline from the closing price of $82.80 a barrel in the previous trading session.<\/p>\n

The American benchmark West Texas Intermediate (WTI) traded at $78.25 per barrel at the same time, for a 0.62% fall from the previous session closed at $78.74 per barrel.<\/p>\n

China, the world’s second-biggest oil consumer, set an economic growth target of around 5% for 2024, according to an official work report released on Tuesday as part of the meeting of the National People’s Congress.<\/p>\n

The target would likely provide a boost for fuel consumption if achieved, however, experts cautioned that the 2024 target would be harder to achieve than in 2023.<\/p>\n

Meanwhile, supply factors stemming from major producers reducing output and escalating geopolitical tensions in the Red Sea and the Middle East limit the fall in oil prices.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. Oil prices decreased on Tuesday amid concerns over the demand outlook in China, the world’s biggest crude importer, after the country set a growth target that experts believe will be harder to reach. International benchmark Brent crude traded at $82.41 per barrel at 10.21 a.m. local time (0721 GMT) for a 0.47% […]<\/p>\n","protected":false},"author":84,"featured_media":114180,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6857,7003,9139,544,2907],"class_list":["post-114181","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-kenya","tag-brent","tag-kenya","tag-oil"],"yoast_head":"\nOil prices down over demand outlook concerns in China - kenya<\/title>\n<meta name=\"description\" content=\"Oil prices decreased on Tuesday amid concerns over the demand outlook in China, the world's biggest crude importer, afte ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/oil-prices-down-over-demand-outlook-concerns-in-china\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil prices down over demand outlook concerns in China\" \/>\n<meta property=\"og:description\" content=\"Oil prices decreased on Tuesday amid concerns over the demand outlook in China, the world's biggest crude importer, afte ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/oil-prices-down-over-demand-outlook-concerns-in-china\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-05T20:49:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-05T21:22:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2024\/03\/sm_1709661067.421434.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"864\" \/>\n\t<meta property=\"og:image:height\" content=\"486\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/oil-prices-down-over-demand-outlook-concerns-in-china#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/oil-prices-down-over-demand-outlook-concerns-in-china\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Oil prices down over demand outlook concerns in China\",\"datePublished\":\"2024-03-05T20:49:26+00:00\",\"dateModified\":\"2024-03-05T21:22:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/oil-prices-down-over-demand-outlook-concerns-in-china\"},\"wordCount\":197,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/oil-prices-down-over-demand-outlook-concerns-in-china#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2024\/03\/sm_1709661067.421434.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Brent\",\"Kenya\",\"Oil\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/oil-prices-down-over-demand-outlook-concerns-in-china#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/oil-prices-down-over-demand-outlook-concerns-in-china\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/oil-prices-down-over-demand-outlook-concerns-in-china\",\"name\":\"Oil prices down over demand outlook concerns in China - 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