Oil stages small recovery as weak economic outlook lingers

Oil prices reclaimed some ground on Thursday after tumbling to a six-month low the previous day but investors remained concerned about sluggish demand in the United States and China. Brent crude futures were up 76 cents, or 1 per cent, to $75.06 a barrel at 0924 GMT. U.S. West Texas Intermediate crude futures was up 67 cents, also 1 per cent, to $70.05 a barrel. "With the largest global importer of oil (China) shuttering its thirst for crude, pressure remains on prices as the largest producer, the United States, continues with headline output," PVM Oil analyst John Evans said. In…