Oil prices remain well supported on the back....>

OIL: Oil prices remain well supported on the back of lingering supply concerns

and OPEC cuts. Brent Crude trades at USD68.39/bbl and 50 cents off the high,

while WTI trades at USD64.23/bbl near the middle of the day's range.

- Russian President Vladimir Putin has indicated the he wanted to continue

cooperating with OPEC, while sounding cautious on the uncertainties facing the

market, which raises some doubt over Russia's commitment to extend production

cuts further.

- Furthermore, Russian Energy Minister Alexander Novak is reported to have said

that if the oil market is expected to balance there may be no need for further

cuts. 

- There is little sign of the conflict in Libya deescalating with rival factions

ignoring calls for a ceasefire in the capital Tripoli.