Oil prices eased on Monday as questions over China's economy outweighed OPEC+ output cuts and the seventh straight drop in the number of oil and gas rigs operating in the United States.
Brent crude fell 17 cents, or 0.2%, to $76.44 a barrel by 1319 GMT while U.S. West Texas Intermediate (WTI) crude lost 27 cents, or 0.4%, to $71.51.
Both contracts ended last week with gains of more than 2%.
A number of large banks have cut their forecasts for China's 2023 growth in gross domestic product after May data last week showed the post-COVID recovery in the world's second-largest economy was faltering.
China is widely expected to cut its benchmark loan rates on Tuesday after a similar reduction in medium-term policy loans last week to shore up a shaky economic recovery.
Source : Reuters
