Edit: Ahlam Adly

Today, oil prices plummeted for the third session after official data showed China's slowing refining productivity and economic activity in an indication that the new outbreak of COFID-19 is affecting China.

Crude oil refining in China last month also slipped to the lowest level on a daily basis since May 2020, as independent refineries cut production amid quota cuts, rising stocks and declining profits.

China is the world's largest importer of oil. In Japan, the world's fourth-largest importer of crude oil, many analysts expect modest economic growth in the current quarter, as renewed household spending has been affected by restrictions to contain corona injuries. In Japan, the world's fourth-largest importer of crude oil, many analysts expect modest economic growth in the current quarter, as renewed household spending has been affected by restrictions to contain corona injuries.

And Brent crude dropped by 1.3 percent to $ 69.69 a barrel, by 06:49 BT.

U.S. crude declined 1.4 percent to $67.47 per barrel, and data showed that growth in factory production and retail sales in China slowed dramatically in July 2021, contrary to expectations that a new outbreak of Kofid-19 and a wave of flooding disrupted trading activity.

It states that "weak oil futures... This is likely to be the result of growth data that have been weaker than expected in China, a major consumer of oil. "