Oil prices edge up as investors latch on to Opec cuts, supply outlook


Oil prices edged up on Monday, reversing earlier losses, as investors shrugged off data that confirmed China's slowing economy and instead latched on to positive supply-side drivers for the market. Brent crude oil futures were up 12 cents at $62.82 a barrel by 12:27 p.m. EST (1727 GMT), while U.

S. crude futures rose 19 cents to $53.99 a barrel in a choppy session. Global equities fell after data pointed to a slowdown in Chinese economic growth in 2018 to a 28-year low. The numbers fed concern that the outlook for global growth.

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