Oil prices rebounded on Tuesday on reports that production at the world's l...
SINGAPORE - Oil prices rebounded on Tuesday on reports that production at the world’s largest oil producers fell during the third quarter, although a resumption in Saudi supply and demand concerns continued to keep a lid on prices.
Front-month prices for both contracts posted their largest quarterly falls this year on Monday, hurt by a slowdown in global economic growth amid the U.S.-China trade war. Oil prices are likely to remain steady, with Brent averaging $65.19 a barrel and WTI $57.96 in 2019, as flagging demand outweighs supply shocks, a Reuters survey showed.Saudi Aramco has restored full oil production and capacity to the levels they were at before attacks on its facilities on Sept. 14, the head of its trading arm said on Monday. Saudi Arabia pumped about 9.78 million barrels per day in August.
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