Oil prices were higher today, rising about $1/bbl as OPEC+ is contemplating extending voluntary output cuts. Sources are telling Reuters OPEC+ could keep the additional cuts in place until the end of the year. “We are going to see some tight supplies down the road,” said Dennis Kissler, senior vice president of trading at BOK Financial. “OPEC is looking for mid-$80s, may be around $85 a barrel on Brent. If we stay below that, they will curtail production all the way to the year end,” Kissler added. Markets expect to see some improvement in Chinese oil demand as improving travel demand over the Lunar New Year holiday outweighed worries of slowing macro-economic indicators. Russian authorities announced a six-month ban on gasoline exports from March 1 to compensate for rising demand and to allow for refinery maintenance. WTI traded up $1.29 or 1.7% to close at $78.87. Brent traded up $1.12 or 1.4% to close at $83.65.