Oil prices steady on extended supply cuts, US stocks draw
Singapore: Oil prices edged higher on Wednesday after a steep fall in the previous session, supported by extended output cuts by OPEC and its allies despite concerns that a slowing global economy could crimp demand.
An expected large draw in US crude oil inventories also underpinned sentiment after a bigger-than-expected stocks fall in a private survey.
Brent crude futures for September delivery were trading up 36 cents, or 0.6%, at $62.76 a barrel by 0244 GMT.
