Oil prices slid on Monday, pressured by concerns about weaker global economic growth and the oversupply of crude. Light, sweet crude for November delivery, the front-month contract, fell $1.27, or 2.8%, to $44.43 a barrel on the New York Mercantile Exchange, a two-week low. The global Brent contract lost $1.26, or 2.6%, to settle at $47.34 a barrel on the ICE Futures Europe exchange. An employee uses a wrench to adjust a valve on oil pumping gear. New data raised fresh worries about slowing economic growth in China. Chinese officials reported that industrial profits in the country fell 8.8% from year-ago levels, the largest decline since 2011. Meanwhile, a French newspaper quoted International Monetary Fund Managing Director Christine Lagarde as saying that its prior global growth estimates were “not realistic anymore” and that forecasts for this year and next would be revised lower. The IMF will publish its new […]