With the rise in the price of oil .. The producing countries extended by reducing production

19/05/2017 12:49 | Number of readings: 75

Trend Press / Agencies

Oil prices rose at a settlement, with top crude producers hinting that they would extend production cuts to reduce the ongoing supply glut in global markets.

Brent crude was up 30 cents or 0.5 percent to settle at $ 52.51 a barrel.

US crude remained unchanged, rising to 28 cents to settle at $ 49.35 a barrel, its highest close since April 26.

The benchmark crude rose on Wednesday, after news of a decline in crude stocks and production in the United States.