Oil Prices Rising On Talks Of Production Cuts

Friday, April 3rd
Oil at $28 a barrel may not sound thrilling, but it is a vast improvement over what the markets have been dealing with recently.

West Texas Intermediate Crude was up sharply for a second straight day Friday morning, crossing the $28 mark at one point in the session.

At GasBuddy.com, Analyst Patrick DeHaan said the increase is driven by renewed hope Saudi Arabia and Russia can come to an agreement over production cuts.  DeHaan told KRLD oil output could be cut by an unthinkable 15 million barrels per day to help ease the world's current oil glut.

DeHaan discussed the outlook for oil and the latest on gasoline prices with KRLD's Chris Sommer.