REUTERS
Oil prices fell on Monday after China and South Korea posted weak economic data, while fading prospects for a coordinated output cut by leading crude exporters also hurt the market, according to Reuters.
Chinese data showed its manufacturing sector had contracted at the fastest pace since 2012 in January, adding to worries about demand from the world's top energy consumer at a time when the market is already weighed down by a large supply overhang, Reuters wrote.
Numbers from South Korea were also gloomy, with exports down to levels last seen during the 2009 financial crisis.
Read alsoNo Saudi proposal to cut oil production 5%: mediaFront-month Brent crude LCOc1 was down 79 cents at $35.20 per barrel at 07:16 GMT, while U.S. West Texas Intermediate CLc1 was down 70 cents at $32.92 a barrel.
Oil prices also came under further pressure from dimming prospects of a coordinated production cut by exporters like the Organization of the Petroleum Exporting Countries (OPEC) and Russia due to their differences.