London — Oil prices rose on Monday, bolstered by confidence that top exporters will this week agree to extend supply curbs, with suggestions the cuts could even be deepened. Brent crude gained 28 cents to $53.89 a barrel by 13:37 GMT, with US light crude up 30 cents at $50.63. Both benchmarks have climbed more than 10% from lows earlier this month. Prices have risen on expectations the Organization of the Petroleum Exporting Countries and other producers, including Russia, will extend for another six or nine months a deal to cut supplies by 1.8 million barrels per day (bpd). "The decision (to extend cuts) seems to be almost a done deal," said Bjarne Schieldrop, chief commodities analyst at SEB Markets. "There seems to be a very high harmony in the group." OPEC Secretary-General Mohammad Barkindo said on Monday that he saw a growing consensus among the group’s members as well as non-OPEC producers on the duration of an extension. The possibility of deeper cuts was also being discusse...
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