Oil moves higher, hovers below $40 as doubts emerge over next step on OPEC cuts

NEW YORK — Oil ended slightly higher on Wednesday but remained below the session’s early highs above $40 a barrel, the highest since March, retreating as doubts emerged about the timing and scale of a potential extension to the pact between OPEC and its allies to cut crude supplies. Oil prices were supported by a drawdown in U.S. crude inventories in the latest week, but...