Oil rises on supply cut pledges and slow return of Gulf field - Reuters:
Oil prices rose on Tuesday in thin pre-Christmas trading after Russia said cooperation with OPEC on supply cuts would continue and amid optimism that the United States and China could finalize a trade agreement.
Brent crude LCOc1 was up 57 cents, or 0.86%, at $66.96 a barrel by 10:22 a.m. EST (1522 GMT) U.S. West Texas Intermediate CLc1 was 56 cents higher at $60.87 a barrel.
OPEC and Russia will continue their cooperation as long as it is “effective and brings results,” Russian energy minister Alexander Novak said in an interview on Monday.
OPEC and allies agreed in November to extend and deepen output curbs in place since 2017. Under the reduced output, as much as 2.1 million barrels per day (bpd) could be taken off the market, or about 2% of global demand.
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