Oil steadies near $64 on hopes of full Saudi output restart

LONDON: Oil stabilised near $64 a barrel on Monday, after gaining nearly 7% last week, due to prospects of a faster-than-expected full restoration of Saudi oil output and pressured by fresh signs of European economic weakness.

A source, briefed on the latest developments in the Sept. 14 attack on Saudi oil facilities, told Reuters Saudi Arabia had restored around 75% of crude production lost.