Oil prices posted gains of more than 1% in Asian trade on Wednesday on falling U.S. crude inventories and a lower greenback, but concerns OPEC+ will leave output unchanged at its upcoming meeting and weak China data limited gains.
Brent crude futures firmed 95 cents or 1.14% to $83.98 per barrel by 0411 GMT, while U.S. West Texas Intermediate (WTI) crude futures climbed 80 cents or 1.02% to $79.00 per barrel.
Helping to boost prices, U.S. crude oil stocks were expected to have dropped by about 7.9 million barrels in the week ended Nov. 25, according to market sources citing American Petroleum Institute figures on Tuesday.
