Oil steadies on Opec+ supply cut hopes and Libyan output loss
US crude inventories are expected to rise for fifth week, as Opec+ mulls further supply cut of 600,000 bpd
25 February 2020 - 12:58
London — Oil steadied above $56 a barrel on Tuesday after two days of declines as Opec output cuts and Libyan supply losses balanced concerns about the spread of the coronavirus and its impact on oil demand.
Crude fell almost 4% on Monday, with other commodities also posting losses while US and European equities suffered their steepest declines since mid-2016 on concern the coronavirus could turn into a pandemic...
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