Crude rebounded in Asia on Friday as rig count data loomed to set the near-term tone and investors focused on supply figures next month from OPEC and the Paris-based International Energy Agency. SEE MORE Oil prices rose on Friday but were still on track for a second straight weekly loss on concerns that an OPEC-led production cut has failed to significantly tighten an oversupplied market. SEE MORE It now seems quite likely that OPEC will agree to an extension of November’s production cut agreement at their May meeting. The question facing analysts and market watchers is how much a cut extension will impact the market going forward, and whether it will deliver the boost in prices that OPEC is hoping for. SEE MORE Asia’s naphtha price spreads are expected to remain strong as tight supply of light naphtha prevails in a market buoyed by strong and healthy cracker margin, traders said on Friday. SEE MORE Oil prices rose on Friday but were still on track for a second straight weekly loss on concerns that an OPEC-led production cut has failed to significantly tighten an oversupplied market. SEE MORE