Speaking in Beijing on Monday, Saudi Arabia's energy minister, Khalid al-Falih, and Russia's Alexander Novak said they wanted the current agreement, which involves OPEC member and non-member states, including Russia, to continue holding back around 1.8 million barrels of oil from the market each day until the first quarter of 2018. The current agreement, established last November, is set to expire at the end of June.
"The two ministers agreed to do whatever it takes to achieve the desired goal of stabilizing the market and reducing commercial oil inventories to their five-year average level," the ministers said in a joint statement, "as well as to underscore the determination of oil producers to ensure market stability."
West Texas Intermediate crude futures for June delivery were rising 2.7% early Monday to $49.14 a barrel, while futures for Brent crude, the global benchmark, gained 2.69% to $52.21 a barrel.
3. -- Asia on Monday reported thousands of new cases of damage from Friday's worldwide "ransomware" cyberattack but no large-scale breakdowns while Britain's National Cyber Security Centre warned the cyber attack could spread "significantly" as computer systems and networks come online at the start of the working week.
The initial attack, known as "WannaCry," paralyzed computers running Britain's hospital network, Germany's national railway and scores of other companies and government agencies around the world.
The attack was disrupting computers that run factories, banks, government agencies and transport systems in scores of countries, including Russia, Ukraine, Brazil, Spain, India and Japan, among others, the Associated Press reported. Among those hit were Russia's Interior Ministry and companies including Spain's Telefonica and FedEx (FDX) .
Automaker Renault said a plant in northern France wasn't reopening Monday as technicians dealt with the cyberattack's aftermath.
The "WannaCry" attack was estimated to have affected more than 200,000 computers in 150 countries since its initial launch on Friday.
"Since the global coordinated ransomware attack on thousands of private and public sector organisations across dozens of countries on Friday, there have been no sustained new attacks of that kind," Britain's NCSC said. "But it is important to understand that the way these attacks work means that compromises of machines and networks that have already occurred may not yet have been detected, and that existing infections from the malware can spread within networks."
"This means that as a new working week begins it is likely, in the U.K. and elsewhere, that further cases of ransomware may come to light, possibly at a significant scale," the NCSC said.
Bloomberg first reported the possibility of a deal.
Patheon shares jumped 33.4% in premarket trading on Monday to $34.68.
Thermo Fisher has a market value of about $67 billion, while Patheon is worth about $3.8 billion.
Patheon was formed in March 2014 through a merger of Canadian drugmaker Patheon and the pharmaceutical business of Dutch vitamin maker Royal DSM.
Purchasing Patheon would add to the $22 billion in acquisitions announced by Thermo Fisher over the past five years, according to data compiled by Bloomberg.
5. -- In tech news, Apple (AAPL) acquired data mining and machine learning company Lattice.io, Fortune reported, citing sources familiar with the matter.
Apple confirmed the acquisition exclusively to Fortune via telephone over the weekend, and provided the following statement via email: "Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans."
Meanwhile, Alphabet's (GOOGL) self-driving car division, Waymo, launched a joint venture with ride-sharing group Lyft to test autonomous vehicles as the two groups continue to challenge Uber Technologies in the potentially game-changing sector.