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Oil climbs on hopes for output cuts to offset China virus impact

FILE PHOTO: Pump jacks operate in front of a drilling rig in an oil field in Midland
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SINGAPORE (Reuters) - Oil prices rose on Wednesday, boosted by news that OPEC and its producer allies are weighing further output cuts to counter a potential squeeze on global oil demand resulting from China's fast-spreading coronavirus. Brent crude oil futures were up 31 cents, or 0.6%, to $54.27 a barrel by 0734 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up 21 cents or..
Date Published: Feb 05, 2020
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