|2018-12-13 来源： 中国石化新闻网|
Oil prices rise on Asian stock rally, OPEC-led cuts
Oil prices climbed by around 1 percent on Wednesday amid a stock market rebound and on expectations that an OPEC-led output cut for 2019 would stabilize the supply-demand balance.
International Brent crude oil futures LCOc1 were at $60.86 per barrel at 0543 GMT, up 66 cents, or 1.1 percent, from their last close.
U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $52.22 per barrel, up 57 cents, or 1.1 percent.
The higher prices came amid an increase in Asian share markets on Wednesday.
“The global economy is set to cool in 2019-20, as rising interest rates and inflation begin to limit consumption in major developed economies, and market uncertainty weakens the fundamentals in emerging markets,” the Economist Intelligence Unit (EIU) said in its latest outlook.
In oil market fundamentals, a decision by the Organisation of the Petroleum Exporting Countries (OPEC) and some non-OPEC producers including Russia last week to cut supply by 1.2 million barrels per day (bpd) has supported prices this week.