World News: 02:25 GMT Tuesday 3rd December 2019. [Yahoo Business News Feed via SPi World News]
Oil prices rose for a second day on Tuesday as Saudi Arabia, the de facto OPEC leader and the world's biggest oil exporter, is pushing producers to deepen a supply cut agreement when suppliers meet this week, potentially lowering supply in 2020. The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, are discussing a plan to increase its existing 1.2 million barrels per day (bpd) supply cut by 400,000 bpd and extend the pact until June, two sources familiar with the matter said. Saudi Arabia is pushing the plan to deliver a positive surprise to the market before the listing of state-owned Saudi Aramco, the sources said.
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