Bloomberg Oil rebounded from a six-week low on signs the US crude surplus is easing and as Russia signaled support for longer production cuts with OPEC. Futures in New York rose as much as 1.1 percent after closing at the lowest since March 21. US crude inventories fell by 4.16 million barrels last week and gasoline dropped by 1.93 …

  Dubai / Reuters Iraqi fuel oil exports have soared since January despite a reduction in the country’s crude production in line with OPEC supply cuts, industry sources said, in what could be a way to boost output of refined products and maintain oil revenues. Iraq on average exported between 80,000 and 160,000 tonnes of fuel oil per month in …

  MOSCOW / Reuters Russia’s oil production on May 1 was 300,790 barrels per day (bpd) below the level in October, meaning it has cut output by more than was demanded under a pact between OPEC and other producers, Russia’s Energy Ministry said on Wednesday. The Organization of the Petroleum Exporting Countries, along with Russia and other non-OPEC producers, pledged …