* Trump says trade talks in Beijing were “very productive”
* WTI edges higher on Monday after 5.4 percent advance last week
By Sharon Cho and Grant Smith
(Bloomberg) —
Oil traded near a three-month high in New York as output curbs by OPEC tightened global supply while trade talks between the U.S. and China lifted financial markets.
* American inventories predicted to increase for a fourth week
* WTI oil rises 2.3 percent after dropping 0.6 percent Monday
By Grant Smith
(Bloomberg) —
Oil rose from a two-week low on a report that Saudi Arabia pledged to deepen production cuts. A tentative accord to prevent another U.S. government shutdown also reassured investors.
* Oil at $60-$70 seen best for producers and consumers: minister
* Non-OPEC member Azerbaijan took ‘active part’ in reaching deal
By Zulfugar Agayev
(Bloomberg) —
OPEC and its allies will probably extend their oil-cuts agreement later this year to keep prices at “comfortable” levels, according to Azerbaijan’s energy minister.
By Alex Longley
(Bloomberg) —
Summary of what’s shaping the oil market on Monday: Crude was steady near a two-month high on Monday, buoyed by the unfolding turmoil in Venezuela and reduced levels of OPEC output. Russian oil output fell in January.
By Salma El Wardany
(Bloomberg) —
OPEC crude output fell the most in two years last month as the group implemented almost 80 percent of its new production cuts deal.
