03JUL2019 - NEWS - Oil is hardly changed on supply cut extension

Opec and allies extend production curbs until March 2020 amid concerns about a slowing global economy

Oil prices edged higher on Wednesday after a steep fall in the previous session, supported by extended output cuts by the Organisation of the Petroleum Exporting Countries (Opec) and its allies despite concerns that a slowing global economy could crimp demand.

An expected large draw in US crude oil inventories also underpinned sentiment after a bigger-than-expected stocks fall in a private survey.