Oil prices rose on Monday, supported by reports that an OPEC-led supply cut may not only be extended into next year but might also be deepened to tighten the market and prop up prices.
Brent crude futures were up 32 cents, or 0.6 percent, from their last close at $53.93 per barrel at 0145 GMT...
Nigeria's Mohammed Barkindo and other ministers of the Organisation of Petroleum Exporting Countries (OPEC) are curenttly meeting in closed-door in Vienna to determine and reach a consensus to cut oil production and prop up global prices.
The meeting is to resolve differences between OPEC’s...
dr mohammed al-sada
nigeria's mohammed barkindo
As traders await the outcome of a meeting of the Organization of the Petroleum Exporting Countries later in the day, where discussion on a collective output ceiling could be revived, crude-oil prices have dropped below US$50.
On the New York Mercantile Exchange, light, sweet crude futures for...