Oil prices fall nearly $1 per barrel as China data disappoints

Oil prices dropped for a second session on Monday as weak China economic data triggered concerns about demand at the world’s largest crude importer while the head of the world’s top exporter, Saudi Aramco, said it was ready to ramp up output.

Brent crude futures fell 89 cents, or 0.9 per cent , to $97.26 a barrel by 0034 GMT after settling 1.5 per cent lower on Friday. US West Texas Intermediate crude was at $91.27 a barrel, down 82 cents, or 0.9 per cent , after a 2.4 per cent drop in the previous session.