LONDON (Reuters) – Oil prices were broadly steady on Friday as concern over slower growth in China, the world’s biggest oil importer, was countered by bullish signals from both the Chinese and U.S. refining sectors and a North Sea crude disruption that proved temporary.

Benchmark Brent crude oil futures LCOc1 moved between negative and positive territory, trading down 3 cents to $59.88 a barrel by 1328 GMT.

U.S. West Texas Intermediate (WTI) crude CLc1 futures edged up by 35 cents to $54.28. The contracts were on track for weekly declines of about 1% and 0.7% respectively.

The Forties oil and gas pipeline system (FPS) in the British North Sea reopened as planned on Friday after being halted for a few hours by a power surge resulting from a lightning strike, operator Ineos said. [CRU/OUT]

The system transports the Forties crude oil stream that makes the biggest contribution to the Brent benchmark.

Sending bearish signals, China’s economic growth slowed to 6% year on year in the third quarter, its weakest for 27-1/2 years and below expectations, dogged by soft factory production and continuing trade tensions with the United States.

China’s September refinery throughput, however, was up 9.4% year on year at 56.49 million tonnes, boosted by new refineries and some independent refiners resuming operations after maintenance.

U.S. and Chinese trade negotiators are working on nailing down a Phase 1 trade deal text for their presidents to sign next month, U.S. Treasury Secretary Steven Mnuchin said on Wednesday.

In the United States, falling product stocks countered higher U.S. crude oil stocks USOILC=ECI, which rose by 9.3 million barrels in the week to Oct. 11. That compared with expectations for an increase of 2.9 million barrels. [EIA/S]

“The actual key takeaway from the report was that the U.S. is inching closer to energy independence,” PVM analysts said in a note. “The country was a net exporter for crude and refined products for a second consecutive week for the first time on record.”

Elsewhere, the joint technical committee monitoring a global oil production pact between the Organization of the Petroleum Exporting Countries (OPEC) and partners found that compliance is being exceeded, with cuts for September representing 236% of agreed quotas, sources said.

OPEC and its allies, including Russia, have agreed to limit oil output by 1.2 million barrels per day (bpd) until March 2020.

OPEC lowered its 2019 global oil demand growth forecast to 0.98 million bpd while leaving its 2020 demand growth estimate unchanged at 1.08 million bpd, its latest monthly report said.