Brent crude oil rose above
Brent was up
"And we have had geopolitical worries that have kept oil supported."
The strong gains overshadowed an unexpected fall in imports that could signal weaker domestic demand. The Chinese data followed US figures showing employment returning to its pre-recession peak, confirming steady improvement in the world's top economy.
May marked a fourth straight month of U.S. job gains above 200,000, a stretch last seen in
It's oil demand dropped to a seven-month low in April, as refineries scaled back production for maintenance and exported surplus fuel.
"Imports so far were more affected by state stockpiling, as
Members of the cartel, which pumps a third of the world's oil, are happy with oil prices and producing enough to cover most of their budget needs. "We expect no change to the joint 30 million bpd output with a muted market reaction,"
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