Oil Extends Rally as OPEC Cuts Output, Russia Mulls Reduction.

(Bloomberg) -- Oil extended its rally after OPEC+ agreed to the largest supply cut since 2020 and Russia warned it may reduce its own output even further. The oil market also drew support from a bullish US government report that showed crude, gasoline and distillate stockpiles declined, indicating tighter supplies and higher demand for oil products. [Extracted from the article]