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Oil adds to rally, heads for fourth week of gains

Reuters  |  NEW YORK 

By David Gaffen and Jessica Resnick-AultNEW YORK (Reuters) - Oil prices rose for a sixth day on Friday after Russia's oil minister said that global crude supplies were "not balanced yet," alleviating market concerns about a wind-down of the OPEC-led deal to reduce production.Russian Energy Minister Alexander Novak said ministers from leading OPEC and non-OPEC producers will discuss the possibility of exiting the deal at a coming committee meeting, but said that "we see that the market surplus is decreasing, but the market is not completely balanced yet." His comments boosted prices, which ...

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First Published: Sat, January 13 2018. 01:54 IST
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