SINGAPORE, June 15 Reuters Oil rebounded on Thursday after the previous day39;s plunge, as data showed a jump in refinery runs at the world39;s top crude importer China, though a weak economic backdrop capped gains.

Brent crude futures rose 39 cents, or 0.6, to 73.59 a barrel by 0630 GMT. U.S. West Texas Intermediate WTI crude climbed 39 cents, or 0.6, at 68.66 a barrel.

Both benchmarks fell 1.5 on Wednesday after the U.S. Federal Reserve projected the need for more rate hikes this year, triggering fears that a higher interest rate environment would slow the economy and lower oil demand.

China39;s oil refinery throughput in May rose 15.4 from a year earlier, data showed on Thursday, hitting its second highest total on record.

The higher throughput came as refiners brought units back online from planned maintenance and independent refiners processed cheap imports.

But a weak economic outlook capped price gains on Thursday, as China39;s industrial output and retail sales growth in May missed forecasts.

China39;s industrial output grew 3.5 in May, down from an expansion of 5.6 in April and slightly below a 3.6 increase expected by analysts in a Reuters poll, as manufacturers struggled with weak demand at home and offshore.

The country39;s retail sales, a key gauge of consumer confidence, rose 12.7, missing forecasts of 13.6 growth and slowing from April39;s 18.4.

The sombre Chinese data weighed on oil prices, said Priyanka Sachdeva, a market analyst at Phillip Nova….