Heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States.Agricultureread more
Although Cook did not mention companies by name, his commencement speech in Silicon Valley's backyard mentioned data breaches, privacy violations, and even made reference to...Technologyread more
U.S. ambassador to Israel David Friedman called the gesture a "birthday present" to Trump, who turned 73 on Friday.Politicsread more
Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
Target's registers were down on Saturday for several hours preventing customers from checking out.Retailread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
The newspaper wrote that Goldman's executive are hoping CEO David Solomon's changes to a firm that historically thrived in investment banking and trading will boost its...US Marketsread more
The Fed is not likely to make a move on interest rates when it meets next week, but it should clear the way for a rate cut later in the summer.Market Insiderread more
Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
With uncertainty keeping a lid on U.S. stocks, Ed Clissold of Ned Davis Research says the rest of 2019 is likely to be a "choppy," but somewhat opportunistic, ride for...Futures Nowread more
You can save money by doing a quick check and unsubscribing from apps you no longer use.Technologyread more
* China's 2018 crude runs hit record 12.1 mln bpd
* Strong demand despite China GDP growth at 28-year low
* OPEC-led supply cuts also support crude prices
* U.S. rig count slows, output rises: https://tmsnrt.rs/2NsKwpc (Refreshes prices)
LONDON, Jan 21 (Reuters) - Oil prices edged lower on Monday, echoing a weaker tone on global stock markets after evidence that economic growth in China, the world's second-largest crude consumer, eased in 2018.
Brent crude oil futures were down 13 cents at $62.57 a barrel by 1207 GMT, while U.S. crude futures lost 10 cents at $53.70 a barrel.
China's 2018 economic growth slowed to the weakest in 28 years, data showed, at 6.6 percent versus 6.8 percent in 2017.
Although the slowdown was in line with expectations and not as sharp as some analysts had expected, the cooling of the world's No.2 economy casts a shadow over global growth.
"It remains quite likely that the trade spat with the U.S. has played a part in this latest slowdown," CMC Markets chief market analyst Michael Hewson said.
"But investors should also factor in that it simply isnt possible for the Chinese economy to grow at the pace that it has over the last 10 years, in the next 10 years."
While there is concern that a slowing global economy could impact oil demand, production cuts implemented by the Organization of the Petroleum Exporting Countries are likely to support crude oil prices, analysts said.
"You can't justify oil prices at these levels. We're looking basically at an average of almost $70 a barrel for Brent in 2019," ING commodities strategist Warren Patterson said.
"I am getting increasingly concerned about how tight the market will be going into 2020."
A separate report from China's National Bureau of Statistics on Monday showed crude oil refinery throughput in 2018 climbed to a record 12.1 million barrels per day (bpd), up 6.8 percent from the previous year.
In the United States, energy companies cut the number of rigs drilling for oil by 21 in the week to Jan. 18, taking the count down to 852, the lowest since May 2018, energy services firm Baker Hughes said on Friday.
It was the biggest decline since February 2016, as drillers reacted to the 40 percent plunge in U.S. crude prices late last year. However, U.S. crude oil production <C-OUT-T-EIA> rose by more than 2 million bpd in 2018, to a record 11.9 million bpd.
With the rig count stalling, last year's growth rate is unlikely to be repeated in 2019, although most analysts expect annual production to average well over 12 million bpd.
(Additional reporting by Henning Gloystein in SINGAPORE; Editing by Dale Hudson and Louise Heavens)