Oil futures rebounded midweek as Saudi Arabia and Russia stressed the need for maintaining tight supply curbs, helping to offset concerns about rising cases of Covid-19 infections worldwide.

Prices had staged a recovery on Tuesday, supported by increasing imports and robust economic data from China that helped soften the impact of plentiful supplies as Norwegian workers ended a crippling strike and US operators resumed production in the wake of Hurricane Delta.

However, oil had been buffeted on Monday, plunging by as much as 3% following the lifting of force majeure at Libya’s largest oilfield and hopes for a peaceful end to the long-running civil war in the North African country.