Oil prices steadied on Tuesday after two days of losses amid U.S.-China trade talks which have investors on edge, but OPEC said it hoped to balance markets beyond 2020 in a sign of possible further supply curbs.
Brent crude LCOc1 fell 4 cents, or 0.07%, to $59.31 a barrel by 1230 GMT, while U.S. West Texas Intermediate (WTI) crude CLc1 dropped 15 cents, or 0.28%, to $53.44.
The National Bureau of Statistics (NBS) reported on Tuesday that China’s factory gate prices declined at the fastest pace in more than three years in September.
That followed customs data on Monday that showed Chinese imports had contracted for a fifth straight month.
