Oil dropped to around $83 a barrel on Monday, pressured by expectations that some Iranian oil exports will keep flowing after the U.S. reimposes sanctions, easing a strain on supplies. SEE MORE Oil in London extended losses for a third day on signs that the potential impact of impending U.S. sanctions on Iranian supplies may be mitigated. SEE MORE China’s central bank cut the amount of cash lenders must hold as reserves for the fourth time this year, as policy makers seek to shore up the faltering domestic economy amid a worsening trade war. SEE MORE The petrochemicals sector is expected to become an increasingly dominant force in the crude oil industry as it will represent nearly half of global crude oil demand growth to 2050, according to the International Energy Agency (IEA) on Friday. SEE MORE China’s central bank will inject a total of yuan (CNY) 1,200bn ($174bn) into its financial system from 15 October via a one-percentage point cut in the banks’ reserve requirements. SEE MORE