Saudi Arabia affirms backing for Opec supply cuts extension:
"Some of the world’s most powerful oil producers are rallying behind an extension of a global supply cuts agreement ahead of next month’s ministerial meeting, providing support to crude prices that have rebounded to $60 a barrel.
Saudi Arabia’s crown prince Mohammed bin Salman confirmed on Saturday the kingdom’s willingness to back an extension of Opec-led output curbs past its expiry in March next year.
“The kingdom affirms its readiness to extend the production cut agreement, which proved its feasibility by rebalancing supply and demand,” Prince Mohammed said in an unusual official statement on the oil market."
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