US
Both benchmarks head for weekly declines of over 8% after six weeks of gains
Crude also weighed down by Fed projection US economy will shrink 6.5% this year
Saudi Arabia, Kuwait, UAE not to extend cuts of 1.18 million bpd
Both benchmarks; WTI and Brent, hit highest level since March
Iraq, Nigeria agree to deeper output cuts; prices double since diving below $20 in April
Will push laggards such as Iraq, Nigeria to comply with existing curbs
Brent has risen 17% since last Friday to three-month high
Market fears meeting of oil producers scheduled on Thursday might not happen
Group considers extending production cuts of 9.7m bpd into July or August
OPEC, Russia discussing to roll over curbs by one to two months