Oil prices dipped more than 2% on Monday after OPEC cut its global oil demand growth estimate for the third consecutive month. The cartel’s downward revision is based on actual consumption data from earlier this year and slightly reduced demand expectations for certain regions. West Texas Intermediate (WTI) lightly crude, a key U.S. benchmark closely tracked by the United States Oil Fund (NYSE:USO), fell 2.2% to just below $74 a barrel. This followed a 0.4% drop in crude prices last Friday. Investor disappointment over the lack of concrete details regarding Chinese fiscal stimulus also impacte…
