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Oil futures ended more than 2% higher after energy ministers from Russia and Saudi Arabia said they would back a nine-month extension to a regime of global production cuts.

The Real Winner From Oil Supply Cuts

The most surprising result of the anticipated deal among big oil producers to extend supply cuts might be that the U.S. re-emerges as the world's biggest oil producer.

Saudi Arabia, Russia Want Nine-Month Extension to Deal on Oil Output Cuts

Russia and Saudi Arabia's energy ministers said a production cut by the world's biggest oil producers should be extended by nine months to the end of March 2018.

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Southern Reaches Short-Term Deal With Westinghouse on Nuclear Plant

The company said it has an agreement to take over management of the Vogtle nuclear-power project and continue construction work through June 3.

Battle Heats Up for Control of Refiner Citgo

Dozens of companies are lining up with claims on the one big pot of money remaining if Venezuela defaults on its debts: the assets of state-owned oil refiner Citgo Holdings.

Citgo's Worth May Be Running Dry

Creditors and companies around the world are mounting competing claims for Citgo's assets in the increasingly likely event of a Venezuelan default. But it isn't clear how much value remains.

Occidental Shareholders Vote for Climate Proposal

In a first at a major U.S. oil-and-gas company, shareholders of Occidental Petroleum Corp., voted Friday to ask that the company assess the long-term impacts of climate change on its business.

China Trade Plan Is Big Deal for Natural Gas

Trump's 10-point China trade plan contains a plug for U.S. natural gas exports. Such an alignment of interests could have collateral impacts on other gas producers especially Australia and Russia.

U.S.-China Trade Plan Hinges on Beijing's Compliance

The U.S.-China pact on greater access to the Asian giant's economy relies in part on Beijing's pledge to open markets in two areas-beef and electronic payments-that it has repeatedly promised to open before, only to continue blocking American firms.

The U.S.-China Trade Deal, Annotated

The Trump administration announced Thursday 10 measures the two governments have reached to further open markets in both countries.

(END) Dow Jones Newswires

May 15, 2017 16:15 ET (20:15 GMT)