# Oil falls on US output gains, Chinese demand doubts | Today News

> Oil prices fell on Monday on expectations of rising U.S. output and weaker Chinese economic data and COVID curbs. Brent dropped 94 cents to $94.83 and WTI fell $1.37 to $86.53; U.S. output reached nearly 12 million bpd in August.

- Date: 2022-10-31 · published 2022-10-31T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/39287-oil-falls-on-us-output-gains-chinese-demand-doubts-today-news
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Higher U.S. supply and weaker Chinese crude demand point to softer energy prices, lowering transport and processing costs for feed.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Sources

- livemint.com: https://www.livemint.com/news/world/oil-falls-on-us-output-gains-chinese-demand-doubts-11667244811455.html

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.