CNBC | Oil holds gains as US rig count rises for 16th week, up 6 rigs to total of 703 CNBC Oil prices rebounded from five-month lows on Friday following assurances by Saudi Arabia that Russia is ready to join OPEC in extending supply cuts to reduce a persistent glut. Traders also noted the technically oversold condition of the oil complex ... Oil drops, recovers and global markets advance Oil rebounds on Saudi assurances Russia will extend supply cuts The Contrarian's Oil Report |