Oil Prices Slump on Demand Worries Despite OPEC Cuts
- WTI crude futures shed over 3% on Thursday on China demand concerns and weak economic data.
- EIA reported a 3.59 million barrel jump in U.S. crude stockpiles on Wednesday.
- China oil demand worries persist despite OPEC's reassurances earlier this week.
- Weak economic data from U.S. and EU also weighing on oil prices.
- Prices now at lowest level since July despite OPEC+ production cuts.