Oil leaps as major producers look to extend record production cuts through July

Oil leaps as major producers look to extend record production cuts through July

Oil continued its climb to past highs on Tuesday amid reports that OPEC+ members are eyeing extensions to record production cuts.. Brent crude , oil's international benchmark, leaped 3.2% to $39.55 at intraday highs.. Oil surged on Tuesday on reports that OPEC+ members want to extend record production cuts for at least one month.. Brent crude , oil's international benchmark, soared as much as 3.2% to $39.55 at intraday highs.. Saudi Arabia, OPEC's leading member, is reportedly in favor of extending cuts one to three months longer.. GOLDMAN SACHS: Buy these 25 beaten-down stocks all poised to jump more than 18% from current levels.