(Bloomberg) — Crude extended gains in Asia after Russia said that it was prepared to reduce output to help stabilize the market before a meeting of top producers later on Thursday.Futures in New York rose as much as 6.1%, after gaining 6.2% on Wednesday. A global supply-curb agreement may be sealed at the OPEC+ emergency virtual meeting on Thursday after Russia said that it is ready to cut oil production by 1.6 million barrels a day, or about 15%. A “massive output reduction” would be discussed, said the energy minister of Algeria, which holds OPEC’s rotating presidency, amid persistent doubts …read more
Source:: Yahoo Finance
