A number of major banks have cut their 2023 gross domestic product growth forecasts for China after May data last week showed the post-COVID recovery in the world's second-largest economy was faltering.
The oil and gas rig count, an early indicator of future output, fell by 8 to 687 in the week to June 16, lowest since April 2022. , , .
Earlier this month, OPEC+ had agreed on a new oil output deal.
The group's biggest producer Saudi Arabia also pledged to make a deep cut to its output in July.
Reporting by Katya Golubkova in Tokyo and Emily Chow in Singapore; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.
Persons:
Brent, Tina Teng, PBOC, Edward Moya, Moya, Igor Sechin, Sechin, Katya Golubkova, Emily Chow, Tom Hogue
Organizations:
NK Rosneft, U.S, West Texas, People's Bank of China's, CMC Markets, Reuters, of, Petroleum, Thomson
Locations:
TOKYO, United States, China, U.S, Russia, OPEC, Saudi Arabia, Tokyo, Singapore