REUTERS

Brent crude futures, LCOc1 the international benchmark for oil prices, were at $52.00 per barrel at 05:04 GMT, down 10 cents, or 0.2 percent, from their last close, as reported by Reuters.

Read alsoOil inches higher after data points to declining U.S. inventories – mediaU.S. West Texas Intermediate (WTI) crude futures CLc1 were at $48.78 a barrel, down 4 cents, or 0.1 percent.

Chinese refineries processed 0.4 percent more crude oil in July than a year earlier at 45.5 million tonnes, or about 10.71 million barrels per day (bpd), data from the National Bureau of Statistics showed on Monday.

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This would be the lowest amount on a daily basis since September 2016, according to Reuters calculations based on official data.