Talk of extended OPEC supply cuts

|By:, SA News Editor

Oil prices are up on a rumor that an OPEC-led production cut could be extended beyond June, although the move would require non-OPEC members like Russia to increase their efforts.

So far the supply cap agreed to last November has done little to prop up prices, as other producers, including the United States, have stepped up to fill the gap.

Crude futures +0.8% to $49.32/bbl.

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