Compensation cuts from OPEC+ members exceeding oil output quotas aren’t expected to outweigh the group’s planned production increase, according to BNP Paribas.

1546 GMT – Oil prices extend gains in afternoon trade, buoyed by U.S. stockpile draws and U.S. pressure on Iran and Venezuela. Brent crude is up 1.2% to $73.27 a barrel, while WTI rises 1.4% to ...