Axios | OPEC and allies leaning toward extending oil supply cut Axios Why it matters: The deal, which was extended previously in May, planned to cut oil supply by around 1.8 million barrels daily until early 2018 in order to return oil stock levels to the five year average, which has not yet been accomplished. The ... OPEC reportedly favors 9-month extension to output cut deal in bid to boost oil prices Iran Ready For OPEC Oil Deal Extension Opec leans towards 9-month extension of oil supply cut |