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– Reuters pic, September 23, 2015.Brent crude oil rose towards US$50 RM217) a barrel on Wednesday as a drawdown in U.S. crude oil stocks outweighed the negative impact of weak economic manufacturing data from China.

Oil prices fell today after the US Federal Reserve kept its main interest rate on hold and following a volatile week for crude.

Oil traded steady to higher on Tuesday, buoyed by gains on Wall Street that helped prices rebound after a tumble in the previous session, ahead of an industry report that’s expected to show if US crude stockpiles have fallen after weeks of gains.

The Saudi-led oil cartel said daily crude production outside of OPEC is likely to grow by 160,000 barrels next year, a figure 110,000 barrels lower than its estimate last month, largely because USA oil production is slipping faster than expected.

The Saudi-led oil cartel said daily crude production outside of OPEC is likely to grow by 160,000 barrels next year, a figure 110,000 barrels lower than its estimate last month, largely because US oil production is slipping faster than expected.