Oil prices climb on prospects for deeper OPEC+ output cuts

NEW YORK (Reuters) - Oil prices edged higher on Thursday, as investors hoped the world's biggest producers would cut output more, while they largely shrugged off forecasts of slumping demand due to the coronavirus outbreak in top oil importer China.Brent crude was up 58 cents, or 1.04%, at $56.37 a barrel by 12:20 p.m. ET (1720 GMT), while U.S. West Texas Intermediate (WTI) was up 40 cents, or 0.8%, at $51.57 a barrel. U.S. gasoline futures jumped more than 1%, supported by outages at Exxon..