Mon, 21 Sep 2015 08:09:12 GMT
Oil rebounds as US drilling slows
Crude futures rose on Monday, following the US drillers' projections to cut more rigs because of low prices. However, a global oversupply and worries about slowing energy demand still weigh on oil prices. Futures for WTI were traded 1.57% higher at $45.41 per barrel, while Brent contracts added 1.31% to $48.10 per barrel by 07:03 AM GMT. Meanwhile, the number