"Based on the consultations I have had with participating members I am rather confident the agreement will be extended into the second half of the year and possibly beyond", Saudi Oil minister Khalid al-Falihsaid at the Asia Oil and Gas Conference in Kuala Lumpur.
Oil rode its longest rising streak in more than a month as a proposal by the world's two biggest crude producers to extend output curbs into 2018 boosted confidence that other nations will follow suit.
Reports said Saudi Arabia and Russia have agreed to extend the current OPEC-Russia oil-production-reduction accord by nine months.
The energy ministers of OPEC kingpin Saudi Arabia and its biggest non-OPEC partner Russian Federation met Monday and agreed to do "whatever it takes to achieve the desired goal of stabilizing the market", Russia's energy ministry said in a statement.
Brent crude futures, the worldwide benchmark for oil prices, were at $50.86 per barrel at 0125 GMT, little changed from their last close at $50.84.
OPEC members agreed in November to cut 1.2 million barrels a day of oil production. You can continue accessing it for as little as $1 a day with a special early bird Polymerupdate discounted price.
The extension will initially be on the same volume terms as before, although the ministers said they hoped other producers would join in the efforts.
The fall in production from Iraq could support crude oil (ERY) (ERX) (PXI) (UCO) prices.
The largest of the 24 producers that agreed to a deal to cut supply for six months starting in January are reaffirming their commitment to the agreement amid growing doubts over its effectiveness so far.
Kuwait today backed a call by top oil producers Saudi Arabia and Russian Federation to extend a deal on crude production cuts for nine more months. It will need to be confirmed at a meeting of OPEC ministers on May 25th in Vienna.
Crude oil inventories in the United States are expected to fall for a sixth straight week, by 2.3 million barrels, according to a Reuters poll of seven analysts ahead of weekly inventory reports from the American Petroleum Institute and the US Energy Information Administration. US output has risen more than 10% since the middle of past year, and data released on Friday by oil services firm Baker Hughes showed that the number of active rigs across the country rose for the 17th week in a row.
Clarke , Jr.is likely being considered for an appointment as an Assistant Secretary in the Department of Homeland Security (DHS). Clarke said in an interview on WISN-AM on Wednesday that he had taken a job as assistant secretary and would start in June.
An image released by the state-run KCNA shows Kim Jong Un (center) reacting during the test launch of a Hwasong-12 on Sunday. But leader Kim Jong Un has promised a sixth nuclear test, warning that his country's weapons could strike the U.S. mainland.
The couple and their organization's education director, Jim Shelton, also met Monday with Democratic Gov. Zuckerberg noted that Facebook has focused on helping users connect with people they already know.
His closest contender, conservative candidate, former Prosecutor General Embrahim Raisi, received 15.786 votes (38.5%). Videos on social media showed young people clapping and chanting, "We love you, Hassan Rouhani , we support you".
But even if it's the case that it takes place in the Kelvin timeline, this doesn't look like a particularly good Star Trek show. Conspicuously absent from the trailer was Jason Isaacs, who is supposedly playing the captain of the U.S.S. " Discovery ".
Every week it seems that the team becomes better both in the present and for the future, and this week will be one to remember. On the Celtics, he could eventually play alongside Thomas in the back court at either point guard or shooting guard".
Be proactive - Use the "Flag as Inappropriate" link at the upper right corner of each comment to let us know of abusive posts. His success at the polls likely carried reformist candidates to victory in other municipal elections as well.
Meanwhile polls have warned that Labour , which won a majority in four councils five years ago, could be facing "heavy losses". On average the party's share of the vote has been up ten points on 2012 in such contests.
Right-back Zabaleta to leave Man City
Pep Guardiola was content with the refereeing in a match that had several controversial moments going in Man City's favour. Zabaleta's exit comes five years after Manchester City won the Premier League title agaisnt Queens Park Rangers.
Video shows sea lion snatching girl from Canadian pier
A dramatic video that surfaced on social media shows a sea lion dragging a young girl off a dock at Steveston in Richmond. The sea lion, being the savage that it is, clearly decided it was high time for her to learn that life ain't no picnic.
Pogba, Fosu-Mensah to face Palace - Mou
Manchester United manager Jose Mourinho says some of the club's young players "are not ready" for first-team action. Zlatan Ibrahimovic, Marcos Rojo (both knee), Luke Shaw (foot) and Ashley Young (hamstring) are out.
Iran reformist drops out of election, supports Rouhani
During the previous presidential election in June 2013, Hassan Rouhani garnered 50.7 percent of a total of over 36 million votes. Jahanigir is part of the president's inner circle and was universally regarded as a "support" candidate for Rouhani.
Trump administration aims to renegotiate NAFTA
Trade Representative Robert Lighthizer said the administration would start talks on the 23-year-old deal in as few as 90 days. Lori Wallach, director of the Public Citizen's Global Trade Watch, says NAFTA needs a complete overhaul.
CDC warns of parasite that may crash your pool party
Before you cancel your child's swim lessons, however, the CDC said it's not sure what accounts for the rise in recorded outbreaks. Don't let kids who are sick with diarrhea swim in a pool, advises Michele Hlavsa, R.N., chief of CDC's Healthy Swimming Program .
Watch Mark Zuckerberg find out he got accepted into Harvard
Earlier in March, Zuckerberg and Bill Gates, also a drop-out from Harvard, got together for a promotional video for the college. I bet them I'd get a degree. "Now I suppose the cycle is complete", Mr Zuckerberg writes in the comments section on Facebook.