Oil prices steadied on Monday after a Kuwaiti workers' strike slashed the country's oil output by more than half, offsetting worries about a scuttled plan by major oil producers to freeze production.
The strike cut more than 60 percent Kuwait's crude output, lending support to price benchmarks such as Brent and Dubai. Supply of refined oil product from the country also tightened due to scaled-back refinery runs and lower fuel exports.
REUTERS
For more details watch full report in the video above