Oil Prices Fall Amid Waning Demand in US and China

Saudi Arabia and Russia Extend Voluntary Output Cuts, US Oil Rigs Decrease

Oil prices fell on Monday due to concerns over waning demand in the United States and China.
Both Brent crude futures and U.S. West Texas Intermediate (WTI) crude futures saw a decrease.
Weak economic data from China, the world's biggest crude oil importer, and a decrease in demand from refiners in China have contributed to the fall in prices.
Top oil exporters Saudi Arabia and Russia confirmed they would continue with their additional voluntary oil output cuts until the end of the year.
U.S. energy firms cut the number of oil rigs operating for a second week in a row, pointing to future output.