Oil rebounds as US and Russia output falls in Q3; Saudi resumes full supply
Oil prices rebounded on Tuesday as data on the world's largest oil producers suggested that output fell during the third quarter of 2019. On the other hand, a resumption in Saudi's oil supply as well as demand worries kept oil prices capped.
December Brent crude futures rose 0.86% to $59.76/bbl, while US West Texas Intermediate crude for November was up 0.96% at $54.59/bbl.
Reuters said that oil prices were likely to average $65.19/bbl in 2019 as low demand may supersede supply reduction.
Meanwhile, Saudi Aramco has managed to restore full oil production and capacity to pre-attack levels, within two-weeks' time.
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