Oil prices rose on Wednesday amid expectations that US oil production growth will remain largely stable until 2025, alleviating fears of excess supply.
Brent crude futures rose 38 cents, or 0.5 percent, to $78.97 a barrel by 0013 GMT, while US West Texas Intermediate crude rose 41 cents, or 0.6 percent, to $73.72. Both crude oil prices rose slightly on Monday.
US government data on oil inventory is scheduled to be released later on Wednesday. US crude inventories are expected to rise by 1.9 million barrels last week as production recovers.
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