Oil clawed back some losses after a weekly slump as fears over an economic slowdown continue to weigh on the outlook for demand. West Texas Intermediate futures traded above $86 a barrel after sliding almost 4% on Friday. In a speech Sunday opening the 20th Communist Party congress, Chinese President Xi Jinping signaled no change in direction for China’s strict Covid Zero policy, a strategy that has dragged on its economy this year. “The upward momentum may not last as there’s no clear reason for a rally,” said Vandana Hari, the founder of Vanda Insights. “It could be some bargain hunting after a rapid slump toward the end of Friday’s session.” An economic slowdown in China has added to a raft of bearish factors for oil, including aggressive monetary policy by central banks to try and […]