Oil prices climb as OPEC, allies weigh output cuts to cushion coronavirus impact
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SINGAPORE (Reuters) - Oil prices rose on Wednesday, reversing out of a 1% slump in the previous session, boosted by producers 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 44 cents, or 0.8%, to $54.40 a barrel by 0127 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up 42 cents or 0.9% to $50.03 a barrel.The Organization of the Petroleum Exporting Countries..