Major oil traders expect an extension to output cuts - RTRS

According to a recent report published by Reuters, major oil traders who gathered in Switzerland for the FT Commodities Global Summit in Lausanne pronounced their optimism on OPEC and non-OPEC producers to extend their pact to curb output in the second half of this year. However, a potential extension will depend on Russia's compliance, which hasn't been 100% yet and is expected to reach a cut of 300,000 barrel per day by April, Reuters reports.