Will Opec Non-Members Agree to Cuts?
Oil extended gains above $51 a barrel before OPEC meets with producers from outside of the group to discuss production cuts. Futures rose 0.8 percent in New York after climbing 2.2 percent on Thursday. Russia will fulfill its pledge to cut output by as much as 300,000 barrels a day if the Organization of Petroleum Exporting Countries follows through on its commitment to curb production, according to a government official familiar with the matter. OPEC has invited 14 producing nations including Mexico and Oman to the meeting in Vienna on Saturday. World First U.K. Chief Economist Jeremy Cook discusses with Manus Cranny on "Bloomberg Daybreak: Europe." (Source: Bloomberg)