"China concerns and a stronger dollar cause oil prices to slide"

Oil prices slipped about 1% due to concerns about China's economic recovery and a stronger dollar, after seven weeks of gains driven by tightening supply from OPEC+ cuts. China's sluggish economic recovery and a stronger U.S. dollar could depress prices, but OPEC+ has indicated it would do whatever it takes to tighten supply and stabilize markets. Supply cuts by Saudi Arabia and Russia are expected to erode oil inventories over the rest of this year, potentially driving prices even higher.