Oil climbs to 13-month highs on output cuts, demand recovery hopes

Oil climbs to 13-month highs on output cuts, demand recovery hopes Brent crude futures for April gained 48 cents, or 0.8 percent, to $61.04 a barrel by 0443 GMT. US West Texas Intermediate crude (WTI) for March was at $58.42 a barrel, up 45 cents, or 0.8 percent.

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