IEA's Birol: China is an uncertainty for oil demand

Oil demand will grow by 1 million bpd at least but China is an uncertainty for demand, said Fatih Birol, the Executive Director of the International Energy Agency (IEA) this Wednesday. US Shale reserves are huge, he added further.

The comments did little to provide any meaningful impetus, with WTI crude oil holding steady above $53.00/barrel mark, up around 0.30% for the day.