TOKYO: Oil prices rose on Wednesday, recovering from a steep drop in the previous session, after the cancellation of talks among OPEC+ producers that raised the prospect the world's major crude exporters will turn on the taps to gain market share.
Brent crude was up 74 cents, or 1%, at $75.27 a barrel by 0715 GMT, after slumping more than 3% on Tuesday. U.S. oil was up 88 cents, or 1.2%, at $74.25 a barrel, having declined by more than 2% in the previous session.
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