Oil slips despite cuts
Oil slipped on Monday after Saudi Arabia said an extension of output cuts by Opec+ nations would not include extra voluntary cuts by a trio of Gulf producers.
Brent crude was down 14 cents, or 0.3 per cent, at $42.16 per barrel, by 1210 GMT, while US West Texas Intermediate (WTI) crude fell 41 cents, or 1 per cent, to $39.14 a barrel.
The Organisation of Petroleum Exporting Countries, Russia and other producers — a group known as Opec+ — agreed in April to cut supply by 9.7 million barrels per day (bpd) in May and June. They agreed on Saturday to sustain those cuts through July.
