Oil prices edged up on Monday, reversing earlier losses, as investors shrugged off data that confirmed China's slowing economy and instead latched on to positive supply-side drivers for the market.
Brent crude oil futures were up 12 cents at $62.82 a barrel by 12:27 p.m. EST (1727 GMT), while U.
S. crude futures rose 19 cents to $53.99 a barrel in a choppy session.
Global equities fell after data pointed to a slowdown in Chinese economic growth in 2018 to a 28-year low. The numbers fed concern that the outlook for global growth.