1.   The resulting output cutback led to a threefold increase in global oil prices.

2.   Hawkes said consolidation among gold producers followed by output cutbacks was the most obvious way to redress the supply-demand imbalance that has dogged gold for years.

3.   Algerian oil minister Chakib Khelil said on Friday that he was confident Russia would extend its oil output cutbacks until the end of June.

4.   But figures published by the PetroLogistics group showed OPEC was tightly observing its output cutback.

5.   The output cutbacks have started to make themselves felt in US crude and product stock levels, which have fallen sharply in recent weeks.

6.   The price of oil opened slightly higher in London as the market digested news from Cairo that OPEC would rubber-stamp the output cutback.

7.   Khelil also said he was confident Russia would extend its oil output cutbacks until the end of June.

8.   Oil prices turned up on Friday in largely technical trading, with few signs of a breakthrough from global producers mulling a large output cutback to boost prices.

9.   OPEC ministers are expected to extend their output cutback, agreed in December after forging a fragile pact with other leading producers.

10.   The price of oil opened slightly higher in London, as the market digested the news that OPEC was about to announce formally the output cutback.