Crudeoil trading range for the day is 3890-4244.
* Crudeoil prices recovered from lows on the growing prospect of OPEC and allied producers cutting output at a meeting next month to prop up the market.
* OPEC and its partners are discussing a proposal to cut output by up to 1.4 million barrels per day (bpd), a larger figure than officials have mentioned previously.
* OPEC warned that an oil supply glut could emerge in 2019 as the world economy slows and supply from rival producers rises more quickly than expected.
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