Oil rose from its lowest level in almost three months as China weighed measures to kickstart the world's second-largest economy.
Oil rose from its lowest level in almost three months as China weighed measures to kickstart the world's second-largest economy.
Some of crude's sharp loss Monday was reversed as China tried to spur growth with an unexpected short-term interest rate cut on Tuesday. Beijing is also mulling a broad package of stimulus measures, according to people familiar with the matter. A slowdown in the U.S. and resilient Russian exports are adding to the downward pressure, blunting Saudi Arabia's recent decision to cut one million barrels a day of production. Goldman Sachs Group Inc. lowered its oil price forecasts for the third time in six months on Sunday, saying it sees supplies swelling and demand waning.
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