SINGAPORE/TOKYO — Oil prices were steady on Friday as reports of sluggish economic growth in China, the world's biggest crude importer, raised concerns about fuel demand and countered optimism from the signing of the Sino-U.S. trade deal earlier in the week. In the fourth quarter of 2019, the world's second-largest economy grew by an expected 6% from a year earlier, while the full-year expansion was 6.1%, the slowest in 29 years, government data showed on Friday. "A well-expected fourth-quarter China GDP rate provided little clue for oil price trading on Friday morning, and mounting downward economic pressure will perhaps limit oil's upside in the mid- to long-term," Margaret Yang, market analyst at CMC Markets. Brent crude futures inched down 4 cents to $64.58 by 0615 GMT, after gaining nearly 1% on Thursday. The contract was down 0.6% for the week, on track for a second weekly fall.

Source: International New York Times January 17, 2020 06:33 UTC