Oil prices inch down on high stocks, weak China factories survey

May 1, 2017 By Aaron Sheldrick TOKYO (Reuters) – Oil prices edged lower on Monday, undermined by a weak manufacturers survey out of China, and despite talk that OPEC-led crude oil output cuts could be extended when oil producers meet later this month. NYMEX crude for June delivery was down 10 cents at $49.23 a barrel by 0204 GMT. London Brent crude for new front-month delivery in July was down 13 cents at $51.92. Also weighing on prices was a faster than expected slowdown of growth in China’s manufacturing sector…

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