Oil prices climbed on Wednesday, supported by indications of declining output in the U.S. and increased demand from Europe and China, where buyers stepped in after prices hit recent lows earlier in the week.
By 1215 GMT, Brent crude had risen 37 cents, or 0.6%, to $62.52 per barrel, while U.S. West Texas Intermediate (WTI) crude was up 44 cents, or 0.74%, at $59.53 per barrel.
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