Oil prices recover after output from U.S., Russia, OPEC drop

Oil prices rebounded on Tuesday on reports that production at the world’s largest oil producers fell during the third quarter, although a resumption in Saudi supply and demand concerns continued to keep a lid on prices.December Brent crude futures (Loco) rose 25 cents, or 0.42% to $59.50 a barrel by 0657 GMT, while U.S. West Texas Intermediate crude (Cl) for November was up 25 cents, or 0.46%, at $54.32 a barrel.Front-month prices for both contracts posted their largest quarterly falls this year on Monday, hurt by a slowdown in global economic growth amid the U.S.-China trade war.

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