Oil prices rose March 17, helped by a weaker dollar, as investors weighed the impact of OPEC production cuts against rising U.S. shale oil output and persistently high inventories.Saudi Energy Minister Khalid al-Falih said March 16 oil output cuts by OPEC and non-OPEC producers could be extended beyond June if oil stocks stayed above a long-term average.But analysts said the comments gave limited support because Riyadh has said it needs cooperation to rebalance the market and non-OPEC producers, such as Russia, have yet to deliver fully on reduction commitments in the first half of 2017.
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Source: Daily Dose of ShaleDirectories.com News