Brent crude was ended the session up 41 cents, or 0.7%, at $58.64 a barrel, after falling 2.1% on Thursday and 3% the previous day. U.S. crude rose 40 cents to settle at $54.87 a barrel, having dropped 1.4% in the previous session and 3.3% on Wednesday.
NEW YORK: Oil prices on Friday rebounded from a two-day drop, alongside equities as expectations of further stimulus by central banks helped to ease recession concerns.
But oil's gains were capped after the Organization of the Petroleum Exporting Countries trimmed its global oil demand forecast in a downbeat outlook for the rest of 2019 as economic growth slows. The cartel also highlighted challenges in 2020 as rivals pump more, building a case to keep up an OPEC-led pact to restrain supplies.
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