London — Oil prices steadied on Wednesday after climbing about 3% in the previous session on the expectation that Opec-led production cuts will tighten supply and that possible Chinese stimulus might help the global economy. Brent crude oil futures were at $60.70 a barrel at 9.40am GMT, up 6c or 0.1%. West Texas Intermediate (WTI) crude futures were down 7c, or 0.13%, at $52.04 a barrel. “It seems the oil market is looking at Saudi Arabia’s aggressive supply cuts and Chinese aggressive stimulus,” said Jonathan Barratt, chief investment officer at Probis Securities in Sydney. China’s central bank on Wednesday made its biggest daily net cash injection via reverse repo operations on record. Markets took the announcement as evidence that authorities are shifting to a policy of easing to counter a slowdown in the world's second-biggest economy. On Tuesday, China’s National Development and Reform Commission signalled it might roll out more fiscal stimulus. “Prices climbed very much in lin...

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