WTI barely off the floor
Reuters cited three OPEC delegates who said the supply quotas are likely to be extended into the second half of the year. However they're unlikely to increase the size of the cuts.
The market just isn't impressed. WTI is up may 15-cents from the lows and still down $1.20 on the day.
That said, the oil market is a strange thing. When the cuts were first announced it was a foregone conclusion but the market didn't take off until it got the official news.
