Oil prices climb on OPEC-led supply cuts, Asian stock rally | Reuters

Oil prices climb on OPEC-led supply cuts, Asian stock rally | Reuters:

Oil prices rose 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.

Disruptions to Libyan crude exports after local militia seized the country’s biggest oilfield, El Sharara, were also buoying prices, traders said.

International Brent crude oil futures LCOc1 were at $60.84 per barrel at 0742 GMT, up 64 cents, or 1.1 percent, from their last close.