Oil falls on China economic data, output cuts support | Reuters:
Oil prices slipped on Friday after China reported slower economic growth, pointing to lower fuel demand in the world’s biggest oil importer, although market sentiment was supported by supply cuts agreed last week by major crude producers.
Benchmark Brent crude was down 30 cents at $61.15 per barrel by 1100 GMT, on course for a decline this week of around 1 percent. U.S. light crude was 25 cents lower at $52.33.
China, the world’s No.2 economy, on Friday reported some of its slowest growth in retail sales and industrial output in years, highlighting the risks of the country’s trade dispute with the United States.
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