Sept. 30 (Bloomberg) -- Crude oil rose, heading for the biggest monthly gain since May 2009, after U.S. second-quarter gross domestic product and weekly jobless claims beat economists’ estimates, indicating that demand may improve. Oil climbed to a seven-week high as the signals of an economic rebound reinforced a government report yesterday that gasoline consumption increased last week by the most since February. “People are starting to realize that economically, the country is moving forward,” said Carl Larry, president of Oil Outlooks & Opinions LLC in Houston. “It’s all about demand. Whether it’s small or large, it’s still coming, it’s still growing, and that’s the key here.” Oil for November delivery gained $1.04, or 1.3 percent, to $78.90 a barrel at 11:12 a.m. on the New York Mercantile Exchange. Earlier, it touched $79.47, the highest level since Aug. 11. Prices have risen 12 percent in the past year. Futures have climbed 9.7 percent in September and 4.3 percent in the third quarter. Futures fell 9.7 percent in the three months through June 30, the first quarterly decline since 2008. The world’s largest economy grew at a 1.7 percent annual rate in the second quarter, revised figures from the Commerce Department showed today. The growth exceeded the 1.6 percent median forecast of economists surveyed by Bloomberg News. Jobless Claims U.S. initial jobless claims decreased by 16,000 to 453,000 in the week ended Sept. 25, lower than the 460,000 median forecast of 47 economists surveyed by Bloomberg News, Labor Department figures showed today in Washington. Gasoline consumption jumped 6.1 percent last week to 9.38 million barrels a day, according to the Energy Department. It was the biggest one-week increase since Feb. 19. Stockpiles of the motor fuel fell 3.47 million barrels to 222.6 million. They were forecast to increase by 350,000 barrels, according to a Bloomberg News survey. Crude inventories also slipped 475,000 barrels to 357.9 million. “The initial factor for this move was U.S. oil storage data, although I don’t see U.S. demand picking up enough for prices to get much higher,” said Gerrit Zambo, a trader at Bayerische Landesbank in Munich. Oil output from OPEC, supplier of 40 percent of the world’s crude, fell to an eight-month low in September, led by Iraq, where a pipeline disruption curtailed shipments, a Bloomberg News survey showed today. The Organization of Petroleum Exporting Countries is unlikely to change production levels when it meets next month, Kuwait’s oil minister said. Sheikh Ahmad al-Abdullah al-Sabah said in Hanoi yesterday that he is “happy” with current prices. Brent crude for November settlement gained 68 cents, or 0.8 percent, to $81.45 on the ICE Futures Europe exchange in London. --With assistance from Ayesha Daya and Alexander Kwiatkowski in London and Mark Shenk in New York. Editors: Richard Stubbe, Joe Link. To contact the reporter on this story: Margot Habiby in Dallas at mhabiby@bloomberg.net. To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net.

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