Oil rebounds on prospect of bigger OPEC+ supply cuts
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NEW YORK (Reuters) - Oil prices bounced on Tuesday a day after falling to their lowest in more than a year, edging up on hopes that more cuts in crude production from OPEC and its allies would offset demand destruction related to the coronavirus outbreak. Brent crude was up 65 cents, or 1.2%, to $55.10 a barrel by 11:45 a.m. EST (1645 GMT), while U.S. West Texas Intermediate (WTI) crude gained 52 cents, or 1%, to $50.63.The gains marked a rebound after an extended slide over the past two..