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Oil Firm on U.S. Crude Stocks and China Optimism, OPEC+ Talks Limit Gains

oil price
Oil prices firmed in Asian trade on Wednesday on falling U.S. crude inventory figures from API. REUTERS/Dado Ruvic/Illustration

KONTAN.CO.ID - SINGAPORE. Oil prices firmed in Asian trade on Wednesday on falling U.S. crude inventory figures from API, a lower greenback and some optimism on the outlook for China's demand and economy.

A high likelihood that OPEC+ would leave output unchanged at its upcoming meeting limited gains.

Brent crude futures had firmed 70 cents or 0.84% to $83.73 per barrel by 0732 GMT, while U.S. West Texas Intermediate (WTI) crude futures climbed 56 cents or 0.72% to $78.76 per barrel.

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