Oil steadies as China takes steps to revive ailing economy - BNN Bloomberg

Oil steadied as China signaled further economic aid for its ailing property sector, bolstering the outlook for fuel demand in the world's top crude importer.

China's sluggish economic rebound from the COVID pandemic has posed headwinds for crude prices this year, along with monetary tightening by central banks and resilient crude flows from producers including Russia and Iran. Oil prices have also been supported by OPEC+ heavyweights Saudi Arabia and Russia, who announced supply curbs over the summer in a bid to tighten inventories and prop up the market.

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