Oil prices edge higher on Chinese economic data

LONDON, July 15 (Reuters): Oil prices rose slightly on Monday as Chinese industrial output and retail data topped expectations but gains were capped by overall figures showing the country's slowest quarterly economic growth in decades.

The positive Chinese data may indicate early success in the government's stimulus efforts and potentially more oil demand in the world's second biggest economy.

Brent crude futures LCOc1 rose 29 cents, or 0.43 per cent, to $67.01 a barrel by 1125 GMT, while US crude CLc1 was up 23 cents, or 0.38 per cent, at $60.44 a barrel.

Both contracts last week made their biggest weekly gains in three weeks on cuts in US oil production and diplomatic tensions in the Middle East.