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Crude oil prices slide on worries over China economy and higher crude output

Oil prices fell by more than $1 on Monday on worries over China's economy after a survey showed growth in factory activity slipped sharply in the world's second-largest oil consumer, with concerns compounded by a rise in oil output from OPEC producers.Brent crude oil futures skidded $1.12, or 1.5 per cent, to $74.29 a barrel by 0156 GMT while U.S. West Texas Intermediate (WTI) crude futures ped 97 cents, or 1.3 per cent, to $72.98 a barrel after slipping to a session low of $72.87."China's been leading economic recovery in Asia and if the pullback deepens, concerns will grow that the global outlook will see a significant decline," said Edward Moya, senior analyst at OANDA."The crude demand outlook is on shaky ground and that probably will n.....

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