Oil extends gains on OPEC+ supply restraint

Oil prices rose early on Friday, adding to big gains overnight after OPEC and its allies agreed to not increase supply in April as they await a more solid recovery in demand from the coronavirus pandemic.

U.S. West Texas Intermediate (WTI) crude futures climbed 17 cents, or 0.3per cent, to US$64.00 at 0128 GMT, holding below a 13-month high hit on Thursday.

Brent crude rose 10 cents, or 0.2per cent, to US$66.84 a barrel, but down from a high of US$67.75 hit on Thursday.

PetroNeft Resources plc (LON:PTR) is an international oil and gas exploration and production company, focussed on Russia. The company’s shares are listed on the London AIM and Dublin ESM Markets.

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