Saudi Arabia and other major oil exporters signaled over the weekend that they prefer extending the current production-cut agreement until year-end, according to Bloomberg.
Meanwhile, Ezekiel Lol Gatkuoth, South Sudan's minister of petroleum, said on Monday that Saudi Arabia will provide technical assistance to South Sudan's oil sector which is seeking recovery after more than five years of conflict.
The West Texas Intermediate for June delivery rose 0.34 U.S. dollar to settle at 63.1 dollars a barrel on the New York Mercantile Exchange, while Brent crude for July delivery fell 0.24 dollar to close at 71.97 dollars a barrel on the London ICE Futures Exchange.
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