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Oil rebounded Wednesday at 73 dollars a barrel after falling to its lowest level since August, backed by a report that Russia and Saudi Arabia are discussing cuts in oil production in 2019.
The crude rebounded after a previous loss after the Russian news agency TASS, citing an unidentified source, announced that the two countries had started bilateral talks about a possible reduction in production of oil in 2019.
"I think it's a bit of a verbal intervention, trying to bring a speculative length back into the market," said analyst Olivier Jakob of Petromatrix, citing the possibility of a reduction in the number of employees. 39; offer.
Brent, a global benchmark, rose $ 1.18 to $ 73.31 per barrel by 1017 GMT. The contract reached $ 71.18 on Tuesday, its lowest level since August 16th.
US crude increased 28 cents to $ 62.49.
