Baku. Vahab Rzayev - APA-Economics. Oil prices rebounded above $36 a barrel Friday in Asia from a sharp fall the previous trading day as investors braced for more evidence that a global economic slowdown deepened in the fourth quarter, AP reports.
Light, sweet crude for February delivery rose 83 cents to $36.18 a barrel in electronic trading on the New York Mercantile Exchange by midday in Singapore. The contract on Wednesday fell $3.63 to settle at $35.35. Trading was closed Thursday for Christmas.
In London, February Brent crude rose 74 cents to $37.35 a barrel on the ICE Futures exchange.
OPEC President Chakib Khelil said earlier this week the group may meet in Kuwait City on Jan. 19 to discuss further production cuts. The group’s next official meeting is March 15 in Vienna.
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