The price of Brent crude oil declined below $97 a barrel today amid weak Chinese industrial data and a strong US dollar.

According to Reuters, Brent for November delivery dropped 61 cents to $96.39 a barrel and US crude declined 72 cents to $92.82 a barrel.

"Brent for November delivery dropped 61 cents to $96.39 a barrel and US crude declined 72 cents to $92.82 a barrel."

The Chinese Government said that the country’s industrial profits fell 0.6% in August, compared with last year; in July, the country had witnessed a 13.5% increase.

However, a Reuters poll has revealed that the manufacturing industry in China may have steadied in September.

Meanwhile, the US dollar has hit a fresh four-year peak on Monday against a host of currencies.

Iran has urged Organization of the Petroleum Exporting Countries (OPEC) members to make efforts to help offset the decline in oil prices, the news agency said.

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Air raids, undertaken by US-led forces, have hit three makeshift oil refineries in northern-Syria.

A spokesman for Libya’s state-run National Oil Corp (NOC) said on Sunday that a strike has reduced Libya’s oil production by 25,000 barrels a day to 900,000 barrels per day (bpd); however, this production is still up from a low of 200,000 bpd earlier this year.

Energy