Oil prices rebounded

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.

December Brent crude futures (LCOc1) rose 51 cents, or 0.86% to $59.76 a barrel by 0426 GMT, while U.S. West Texas Intermediate crude (CLc1) for November was up 52 cents, or 0.96%, at $54.59 a barrel.

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