Oil Prices Rise On Asian Stock Rally, OPEC-Led Cuts

Oil prices climbed by around 1 percent on Wednesday amid a stock market rebound and on expectations that an OPEC-led output cut for 2019 would stabilise the supply-demand balance.

Disruptions to Libyan crude exports after local militia seized the country's biggest oilfield, El Sharara, were also buoying prices, traders said.

International Brent crude oil futures were at $60.86 per barrel at 0543 GMT, up 66 cents, or 1.1 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were at $52.22 per barrel, up 57 cents, or 1.1 percent.

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