Oil prices lift as US crude stocks fall

London — Oil prices rose on Wednesday as data showing a larger-than-expected US crude drawdown last week outweighed concerns about lower demand from China.

Analysts polled by Reuters on average had expected a 1.1-million barrel drawdown in crude inventories.Prices continued to see support from denials by key Opec producers including Saudi Arabia that the group and its allies, together called Opec+, were not considering boosting oil output. Opec+ next meets on December 4.

These bearish factors have offset demand concerns relating to top crude oil importer China, which has been grappling with a surge in Covid-19 cases.

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IAEA chief meets Russians to discuss Zaporizhzhia nuclear plant protection - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The head of the U.N. nuclear watchdog met a Russian delegation in Istanbul on Wednesday to discuss safety at the Russian-held Zaporizhzhia nuclear power plant in Ukraine, the watchdog said.
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