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Oil inched up on Wednesday, supported by hopes that OPEC and allies may deepen their production cuts in December, while weakening global economic and oil demand outlook continues to weigh on prices. At 11:22 a.m. EDT on Wednesday, WTI Crude was up 1.34 percent at US$53.52, while Brent Crude was trading up 1.19 percent at US$59.44. Prices steadied early today, after two consecutive days of losses earlier this week, when the ongoing U.S.-China trade dispute and another gloomy economic forecast depressed the price of oil. On Tuesday,…
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