SINGAPORE: Oil prices pared losses after earlier hitting multi-year lows on Monday as hopes that a bigger than expected production cut from Opec and stimulus from central banks could offset economic gloom from the coronavirus outbreak.

Brent crude was at $50.32 a barrel, up 65 cents, or 1.3 per cent, by 0105 GMT, after earlier dropping to $48.40, the lowest since July 2017.

US West Texas Intermediate crude hit a 14-month low of $43.32 a barrel, before recovering to $45.23, up 4 ..

Read more at:
https://economictimes.indiatimes.com/markets/commodities/news/crude-oil-prices-bounce-from-multi-year-lows-on-hopes-of-opec-cut/articleshow/74432691.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst....................ET