Economy News _ Baghdad
Oil prices rose on Wednesday, after Iraq announced that OPEC and other producers of crude were considering extending or even cutting production further to recover from oversupply. WTI crude futures rose 37 cents, or 0.8 percent, to $ 49.85 a barrel at 0226 GMT.
Brent crude futures rose 25 cents, or 0.5 percent, to $ 55.39 a barrel.
Oil prices fell Tuesday, down from a 5-month high before a meeting between two major producers to discuss a possible extension of crude supply cuts.
Iraq's oil minister, OPEC's second largest producer, said the group was discussing several options for the supply agreement, including extending it beyond March and further cuts in production.
Iraqi statements raise oil prices
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