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SINGAPORE - Oil prices edged higher yesterday as dealers saw a buying opportunity after a sharp slide, with Opec producers maintaining supply curbs and worries remaining over US supplies.
London Brent crude, seen as currently more representative of the global market, rose US19c to US$68.79 a barrel, after plunging by US$2.62 on Friday amid a commodities sell-off on fears of slower economic growth. US crude rose US15c to US$64.91 after a US$2.17 drop.
Top oil exporter Saudi Arabia said it will keep supplies steady in July, as opposed to around 10 per cent below full contracted volumes for this month, showing no sign of softening oil prices by pumping extra barrels.
- REUTERS
