Oil prices rose on Tuesday as worries about global crude oversupply eased.
The Organization of the Petroleum Exporting Countries (OPEC) have started considering extending their current oil output cuts until at least June, Reuters reported, citing OPEC sources.
The news eased investors' concerns that weak crude oil demand would drag down the prices.
The West Texas Intermediate (WTI) for March delivery settled 0.34 U.S. dollar higher at 53.48 dollars a barrel on the New York Mercantile Exchange. Brent crude for March delivery added 0.19 dollars to close at 59.51 dollars a barrel on the London ICE Futures Exchange.
Editor:Cherie
