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NEW YORK (Reuters) – Oil prices rose on Tuesday as lingering worries over global demand and rising US production have dampened the expectations of major producers.
At 10:32 GMT, Brent forward prices were up 8 cents, or 0.14%, from the previous settlement at $ 58.65 per barrel.
The benchmark has lost more than 20% since its highest level reached since the beginning of the year in April.
West Texas Intermediate (WTI) crude futures prices in the US were $ 55.02 per barrel, up 9 cents or 0.1%.
Saudi Arabia, the largest oil producer of the Organization of the Petroleum Exporting Countries (OPEC), announced last weekend its intention to keep crude exports below 7 million barrels a day in August and in September to help unload global oil stocks.
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