MW: Oil trades above $40 on expectation OPEC will cut production
Crude-oil futures rose Monday to trade above $40 a barrel on expectations that the Organization of Petroleum Exporting Countries will cut its production next month. Crude for April delivery was last up 18 cents, or 0.5%, at $40.21 a barrel in early North American electronic trading. Algerian Energy Minister Chakib Khelil said Sunday that OPEC is very likely to reduce production at a Mar. 15 meeting, the Agence France-Presse reported.
