09-12-2016 05:17 via uk.news.yahoo.com

Oil holds gains on hopes for non-OPEC output cuts

By Osamu Tsukimori TOKYO (Reuters) - Oil prices were steady on Friday, holding around 2-percent gains from the previous session on optimism that non-OPEC producers might agree to cut output following a cartel agreement to limit production. Russia has so far said it would cut 300,000 barrels per day, meaning other non-OPEC producers combined would need to pledge the same amount to lower output by the 600,000 bpd OPEC wants - half the reduction OPEC is making. "An agreement by non-OPEC members to
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