Oil rises 1% on hopes OPEC will extend supply cuts, weaker U.S. dollar
October 16, 2019 at 15:07 PM EDT
Oil rose about 1.4% on Wednesday, gaining support due to signs that OPEC and allied producers will continue to curb supplies in December, a weaker U.S. dollar and as traders covered short positions ahead of an industry report on U.S. crude inventories.
