Oil rises amid the expectation of larger Opec cuts
Uptick also follows increased factory activity in November in China, the world’s biggest crude importer, for the first time in seven months due to rising domestic demand
02 December 2019 - 07:49
Tokyo — Oil prices rose more than 1% on Monday as signs of rising manufacturing activity in China pointed to increasing fuel demand and hints that Opec may deepen output cuts at its meeting this week indicated supply may tighten next year.
Brent crude futures had risen 74c, or 1.2%, to $61.23 a barrel by 3.57am SA time. West Texas Intermediate (WTI) futures rose $86 or 1.6%, to $56.03 a barrel, having risen by more than $1 earlier...
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