Oil Advances on Prospects for OPEC to Extend Production Cuts

Outlook is bright and prices are rising says Iraqi oil minister

Crude Oil: $49.31 barrel, Natural gas: 3.112/MMBtu, Gold:$1327.60 per troy oz


LONDON—Oil prices gained Tuesday morning, buoyed by signals from Iraq’s oil minister that the country could be open to extending OPEC’s production cut agreement through next year.

Brent crude, the global benchmark, rose by 0.32%, to $55.66 a barrel in London midmorning trading. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 0.66%, at $50.24 a barrel.

Iraqi oil minister Jabar al-Luaibi said… To Read More.

Resource: WSJ