Oil Futures End Higher As Producers Plan March Meeting

Oil futures erased early losses to end sharply higher Thursday, turning north after news reports said Venezuela's oil minister announced his country would meet with fellow oil producers next month in an effort to stabilize prices. West Texas Intermediate crude futures on the New York Mercantile Exchange finished with a gain of 92 cents, or 2.9%, at $33.07 a barrel. Venezuela oil minister Eulogio Del Pino said Russia, Saudi Arabia and Qatar would participate in the meeting, according to news reports.