West Texas Intermediate futures for November delivery fell to $47.45 (-0.57%), while Brent crude declined to $50.18 (-0.55%) amid China GDP data.

An official report showed on Monday that the economy of the world's second-biggest oil consumer expanded by 6.9% y/y in the third quarter. The reading was better than a 6.8% growth expected by economists, but it still missed the government's 7% growth target and intensified concerns over global oil demand.