Oil rises as traders await OPEC+ meeting on extending supply cuts

Oil rises as traders await OPEC+ meeting on extending supply cuts

SEOUL (Reuters) - Oil prices moved higher on Friday as traders await cues from a meeting that could take place as soon as this weekend where major oil producers will discuss whether to extend record production cuts.. Saudi Arabia and Russia, two of the world's biggest oil producers, want to extend output cuts of 9.7 million barrels per day (bpd) into July.. "The growing fear is that not only will a deal to extend the deep cuts not be reached, but (some) producers may even relax their current over-compliance..