Oil prices rose sharply yesterday after Saudi Arabia's energy minister said producers may take action to help rebalance global oil markets.The remarks helped send prices up more than 4 per cent in New York, where a barrel of West Texas Intermediate for September delivery closed higher by 1.78 US Dollar at 43.49 Dollar after having lost more than a dollar on Wednesday.In London, North Sea Brent for October delivery rose by 1.99 US Dollar to 46.04 Dollar a barrel on the Intercontinental Exchange.