Oil prices rose more than 2 percent on Tuesday, extending gains ahead of expected output cuts by producer cartel OPEC and a mandated reduction in Canadian supply. Brent crude oil LCOc1 rose $1.55 or 2.5 percent to a high of $63.24 by 0955 GMT. U.S. light crude CLc1 was $1.25 higher at $54.20. Both benchmarks climbed around 4 percent on Monday after U.S. President Donald Trump and Chinese President Xi Jinping agreed at a meeting of the Group of 20 industrialized nations (G20) to pause an escalating trade dispute. “The market seems positively oriented following the G20 developments and heading into the OPEC meeting on Thursday,” BNP Paribas commodities strategist Harry Tchilinguirian told Reuters Global Oil Forum. “A commitment by Russia to cooperate with Saudi Arabia and achieve an agreement […]