Oil prices were heading on Friday towards another week of gains amid growing expectations that big crude exporters will extend output cuts to curb a persistent glut in inventories. Brent crude was up 63 cents at $53.14 at 0813 GMT, after climbing to $53.20, its highest since April 21. US benchmark crude oil was up 61 cents at $49.96 a barrel. Since the start of March, the Brent price has swung from more than $56 a barrel to less than $47 as opinion has swayed over whether cuts by the Organization of the Petroleum Exporting Countries(OPEC) and other producers will offset ...
Oil prices rise as Opec and Russia cut production to counter US Shale
According to reports, Opec's largest producer Saudi Arabia is still keeping markets well supplied