Oil prices steady, all eyes on data seen showing China GDP growth slowdown

Oilpriceswere stable on Friday ahead ofdatathat analysts say could showChina, the world's largestoilimporter, just recorded its weakest quarter of economicgrowthin nearly three decades, dragged down by a trade dispute with the United States.

Global benchmark Brent crudeoilfutures fell by 9 cents, 0.2 per cent, to $59.82 a barrel by 0039 GMT.

USWest Texas Intermediate (WTI) crudefutures were up by 4 cents, or 0.07 per cent, to $53.97 per barrel.

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Analysts polled by Reuters expectedChina's gross domestic product (GDP) to grow 6.1 per centin the July-September quarter from a year earlier, the slowest pace since the first quarter of 1992, the earliest quarterlydataon record.

The Chinese government is due to release its third-quarterGDPdataat 0200 GMT, along with other indicators for September.

Withalleyeson the upcoming numbers, analysts expect weaker economic readings to add to pressure on Beijing to step up stimulus measures.

"The release of fixed asset investment and industrial activity (data) inChinawill set the tone in commodity markets," ANZ Bank predicted in a note.

Adding to downward pressure, UScrudeoilstockpiles surged last week as refinery output dropped to a two-year low, while gasoline and distillate fuel inventories decreased, the Energy Information Administration said on Thursday.

UScrude inventories increased by 9.3 million barrels in the week ended October 11, compared with analysts' expectations for an increase of 2.9 million barrels.

Elsewhere, the joint technical committee monitoring a global deal to cut output between the Organization of the Petroleum Exporting Countries (OPEC) and partners, including Russia, found compliance with cuts for September stood at 236 per cent, according to four OPEC sources.

OPEC and itsallies have agreed to limit theiroilproduction by 1.2 million barrels per dayuntil March 2020.