Oil prices rose in early trade on Wednesday, amid expectations of increased demand in China over the next year after Beijing announced a more accommodative monetary policy to stimulate economic growth.
Brent crude futures rose 38 cents, or 0.53 percent, to$72.57 a barrel. U.S. West Texas Intermediate crude futures rose 0.55 percent to $68.97 a barrel.
China announced it would adopt an appropriately accommodative monetary policy in 2025, a move aimed at stimulating the economy through its first monetary easing in 14 years. The data also showed that China's crude oil imports rose in November by more than 14 percent compared to the same period last year, for the first time in seven months.
Source (CNBC Arabia Website, Edited)
