After starting the New Year in the red, crude oil stabilized higher today on reports that China plans to hold talks with the United States next week to settle their trade balance differences, Reuters reports . The trade war between Washington and Beijing was one of the biggest reasons for heightened uncertainty around oil prices as China is one of the world’s top importers of the commodity and any sign that demand for it might waver immediately puts pressure on prices. Another cause for concern has been the ripple effect of the trade war on other economies. Another reason was OPEC+’s latest agreement to cut production, which as usual led to doubts that the cartel will live up to its promise. However, judging by reports from earlier this week that Saudi Arabia had reduced its oil exports in December by half a million barrels daily, the entry into effect […]