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Oil rises on expectations of extended supply curbs

Reuters  |  LONDON 

By Christopher JohnsonLONDON (Reuters) - Oil prices extended gains on Tuesday after top producers Saudi Arabia, Russia and Kuwait supported prolonging supply cuts until the end of March 2018 in an effort to drain a global glut.Brent crude oil was up 30 cents at $52.12 a barrel by 1335 GMT. U.S. light crude was also 30 cents higher at $49.15 a barrel. Both benchmarks have risen more than $5 since hitting five-month lows 10 days ago.Saudi Arabia and Russia said on Monday they agreed on the need for a 1.8 million barrels per day (bpd) crude supply cut to be extended by nine months, until the end ...

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