Crude Oil Prices Gained After Kuwait Gave Its Backing For An Extension

Crude oil trading range for the day is 3189-3315. Crude oil prices gained after Kuwait gave its backing for an extension of OPEC production cuts in an attempt to reduce global oversupply. 

Prices also gained supported by disruptions in Libyan supplies and amid speculation that OPEC will extend its production-cut deal beyond June.

OPEC, along with other producers including Russia, aims to cut output by almost 1.8 million bpd during the first half of the year.

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