WATCH: Why Opec has extended its supply cuts

Opec has agreed to extend oil supply cuts until March 2020, according to three Opec sources.

This will allow the oil cartel to prop up the price of crude amid a weakening global economy and rising US production.

Opec and its allies led by Russia have been reducing oil output since 2017 to prevent prices from sliding.

Business Day TV spoke to Bjarne Schieldrop from SEB for more analysis.