Oil Rises for 5th Day as Iran Joins Call for OPEC Cut

April 15, 2015 1:35 PM

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Oil advanced for a fifth day as Iran joined Libya in calling for the Organization of Petroleum Exporting Countries to reduce production.

Futures climbed as much as 2.1 percent in London in the longest rising streak since August 2013. OPEC should cut at least 5 percent of its output quota, Iranian Oil Minister Bijan Namdar Zanganeh said Tuesday. The group’s production rose the most in almost four years in March, according to the Inter...

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