OPEC cut extension could hurt Saudi plan to balance market- Gunvor

By Libby George ANTWERP (Reuters) - An extension of OPEC oil production cuts could push oil prices too high to meet Saudi Arabia and others' objective of balancing the market without encouraging U.S. shale output, Gunvor's head of oil market research said on Wednesday. The Organization of the Petroleum Exporting Countries (OPEC) had already begun to achieve some of its aims, creating a virtual price floor of $50 per barrel, David Fyfe told the Platts Middle Distillates conference in Antwerp. OPE