Arab Steel Summit
Arab Steel Summit
Arab Steel Summit

Oil falls on fears of recession and slow recovery in China’s imports

Oil prices fell on Monday, to near multi-month lows, after the recession hit demand and data pointed to a slow recovery in China’s imports of crude oil last month.

Brent crude futures fell 74 cents, or 0.8%, to $94.18 a barrel by 03:30 GMT, and prices for the closest contract month recorded their lowest levels since February, last week, down 13.7% and recording their largest weekly decline since April 2020.

And US West Texas Intermediate crude recorded $ 88.34 a barrel, down 67 cents, or 0.8%, extending losses, after falling 9.7% last week.

Customs data showed that China, the world’s largest importer of crude oil, imported 8.79 million barrels per day of crude in July, up from a four-year low in June, but still 9.5% lower than its level a year ago.


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Arab Iron and Steel Union

لوريم ايبسوم هو نموذج افتراضي يوضع في التصاميم لتعرض على العميل ليتصور طريقه وضع النصوص بالتصاميم سواء كانت تصاميم مطبوعه لوريم ايبسوم ليتصور طريقه لوريم ايبسوم.

About AISU

Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.

It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.

Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.


92 Members

28 Board of Directors

17 Country

300.000 Employees

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