Oil higher as #Saudi pushes for further supply cuts - Reuters

Oil higher as Saudi pushes for further supply cuts - Reuters:

Oil prices edged higher on rising expectations of deeper output cuts when OPEC and its allies meet this week, although scepticism about a deal among some analysts limited the gains.

Brent futures LCOv1 rose 43 cents to $61.35 a barrel by 0924 GMT on Tuesday. U.S. West Texas Intermediate crude CLc1 was up 44 cents at $56.40 a barrel.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, are discussing a plan to increase an existing supply cut of 1.2 million barrels per day (bpd) by a further 400,000 bpd and extend the pact until June, two sources familiar with the matter said.