Oil Rises on Prospect of OPEC+ Supply Cut

Oil Rises on Prospect of OPEC+ Supply Cut
The logo of the Organization of the Petroleum Exporting Countries (OPEC) is pictured at its headquarters in Vienna, Austria, on Aug. 21, 2015. Heinz-Peter Bader/Reuters
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LONDON—Oil rose on Monday, extending last week’s gain, as potential OPEC+ output cuts and conflict in Libya helped to offset a strong U.S. dollar and a dire outlook for U.S. growth.

Saudi Arabia, top producer in the Organization of the Petroleum Exporting Countries (OPEC) last week raised the possibility of production cuts.