Business Insider | Oil is making a comeback following chatter OPEC could extend its production cut Business Insider The energy component trades up just 0.16% at $50.93 a barrel after gaining about 1% early on Thursday. WTI tumbled 4% on Wednesday following a smaller than expected drawdown in oil inventories and the first jump in gasoline supplies in several months. Opec moves close to deal extending oil output cuts Gulf states reassure market that supply deal holds firm after oil prices slump Saudi Arabia, Kuwait signal likely extension of oil supply cuts |