Oil Steady as Investors Weigh Trade Hope Against #Saudi Recovery - Bloomberg

Oil Steady as Investors Weigh Trade Hope Against Saudi Recovery - Bloomberg:

Oil was steady as investors weighed prospects of a thaw in the U.S.-China trade war against indications Saudi Arabia is recovering quicker than expected from the biggest attacks ever on its energy industry.

Futures rose 0.4% in New York after sliding 3.7% over the previous two sessions. President Donald Trump said Wednesday that a deal with Beijing could happen “sooner than you think,” offering a glimmer of hope for global oil demand. Saudi Arabia has boosted total production capacity to more than 11 million barrels a day, according to people with knowledge of the matter, beating its own target by about a week.