Oil prices fell sharply on Monday as investors fretted about weak consumer demand in China and the possible impact on fuel demand.
Benchmark Brent crude futures were down 0.9 percent at $79.19 a barrel, while WTI crude futures were down 1.3 percent at $74.38.
Both benchmarks recorded a third straight week of gains last week to reach their highest levels since April, benefiting from a weaker dollar, signs of tight supply and optimism over slowing U.S. inflation.
Official data showed earlier in the day that the Chinese economy grew just 0.8 percent in the June quarter, down from 2.2 percent in the first three months of 2023.
Other reports on industrial output, retail sales, fixed asset investment and unemployment proved to be a mixed bag, raising concerns about an uneven economic recovery in the world's largest crude importer.
Meanwhile, supply concerns eased after Libya resumed production over the weekend.
Two of the three Libyan oil fields, including the country's second-largest, Sharara, have resumed production over the weekend, days after being shut for protests.
