Oil prices fell slightly on Wednesday as concerns about demand growth in China, the world’s biggest crude importer, clashed with signs of supply tightness amid output cuts by major producers. Prices were also supported by a weaker U.S. dollar which helps demand for buyers paying in other currencies.

Brent crude futures fell 13 cents to $81.91 a barrel by 0045 GMT, while U.S. West Texas Intermediate crude futures fell 11 cents to $78.04 a barrel. China’s economic growth target for 2024 of around 5% set on Tuesday lacked big-ticket stimulus plans to prop up the country’s struggling economy, which increased concerns that demand growth in the country may lag this year.

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