Oil prices edge higher as OPEC hints at deeper output cuts

Oil prices edge higher as OPEC hints at deeper output cuts

Oil prices rose on Wednesday, tracking gains inequities, as investors pinned hopes on a potential Brexit deal between Britain and the European Union and on signals from OPEC and its allies that further supply curbs could be possible.

But gains were limited due to lingering concerns of a global economic slowdown.

Global benchmark Brent crude oil futures LCOc1 had risen 25 cents to 58.99 dollars by 0621 GMT, up about 0.4 per cent from the previous day’s close.

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