Oil prices claw back losses, but oversupply still weighs | Reuters

Oil prices claw back losses, but oversupply still weighs | Reuters:

"Oil prices regained some ground on Thursday after steep losses the previous day, as Kuwait said it expected an OPEC-led effort to cut supplies would be extended beyond the middle of the year.

Brent crude futures were at $53.34 per barrel at 0715 GMT (3:15 a.m. ET), up 41 cents, or 0.77 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were up 32 cents, or 0.63 percent, to $50.76 a barrel."



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