Reuters reports, citing unnamed sources on the matter

It's very much a given now that we'll see the output cuts deal be extended. The question now is whether or not we'll see it for six months or nine months. And also, will it be rolled over on the same production quotas?

Oil has been benefiting on two-folds today. One, on the headlines above since the weekend and the second on the more risk-on mood from the Trump-Xi meeting outcome. Both Brent and WTI are up by nearly 3% with the latter holding just above $60 now.