China's GDP tops forecast.
Meanwhile, Saudi targets $100 oil.
Saudi Arabia is aiming to keep oil prices at about $100 a barrel, a third above its previous public target, in a sign that Riyadh needs higher oil revenues to sustain a big rise in public spending.As noted before on this blog, Saudi has set a floor of $87 to produce a barrel of oil.
Ali Naimi, the Saudi oil minister, on Monday for the first time said the world’s largest oil producer aimed to keep oil prices at the triple-digit level.
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