Looks for supply cuts before November 30 meeting

OPEC Sec. Gen. Barkindo is on the wires. He says:

  • Talks under way to achieve consensus on supply cut extension before November 30 meeting. Looking to extend duration.
  • No participants object to the idea of extending the pact beyond March 2018
  • In the process of inviting other participants to join us at November 30 meeting... He does not name the countries invited

WTI crude oil futures are trading down $.32 at $57.02.

Brent crude oil is trading down $.53 at $63.74.