Oil steadied near $52 a barrel as Saudi Crown Prince Mohammed bin Salman backed the extension of Opec production cuts beyond March 2018. Futures were little changed in New York after falling 0.6 per cent on Wednesday. Prince Mohammed said in an interview with Bloomberg News in Riyadh that “of course” he wanted to extend Opec’s production cuts in 2018, making it all but certain the group and its allies will roll over the curbs at a meeting next month. Oil is holding gains above $50 a barrel as speculation mounts that supply curbs by members of the ...
Oil steady near $52 as Saudi prince backs Opec cuts
Speculation mounts that supply curbs by members of the Opec and its allies will be prolonged
Grant Smith | Bloomberg Last Updated at October 27, 2017 02:40 IST