Brent scales seven-week high

Brent maintained its gains in American trade on Monday for the fifth straight session, marking seven-week highs as OPEC supplies hit two-year lows, while gains were curbed by worries over China's economic performance. 

As of 14:03 GMT, Brent rose to $62.85 a barrel, with an intraday low at $62.24, and the highest since December 7 at $63.06. 

Brent rose 2.4% on Friday, the fourth profit in a row as OPEC's output hit two-year lows. 

OPEC reported a drop of 751 thousand bpd in output last month to a total of 31.58 million bpd, the steepest such decline in two months. 

The US oil rig count also tumbled to May 2018 lows in a sign that US output might taper off record highs at 11.9 million bpd. 

Otherwise, Chinese data showed economic output rose 6.6% in 2018, the slowest such pace of growth since 1990, triggering renewed concerns over oil demand levels in the world's second largest consumer.