Oil Prices Narrowly Higher As Producers Meet On Output Pact

Oil Prices Narrowly Higher As Producers Meet On Output Pact

Oil prices were narrowly higher on Friday as the market waited to see whether major oil producers would back an extension to output cuts beyond March at a meeting in Vienna.

Brent crude futures were at $56.51 a barrel at 0725 GMT, up 6 cents, or 0.11 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were up 10 cents, or 0.2 percent, at $50.65 per barrel.

Some ministers from the Organization of the Petroleum Exporting Countries and from other producers are set to meet in Vienna at 0900 GMT on Friday to discuss a possible extension of an oil supply cut deal that is aimed at supporting oil prices. Read More…

 

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