Oil rises with possible production cuts

The US Department of Labor's Bureau of Labor Statistics said the US economy likely added 462,000 more jobs in the 12 months to March than previously expected. The reading is a preliminary estimate of the BLS' annual "benchmark" review of closely watched payroll data, and the BLS compares nonfarm payroll data based on monthly surveys of a sample of employers with a much more complete database of unemployment insurance tax records.

A final reference review will be released in February along with the BLS Employment Report for January, and government statisticians will use the final benchmark count to review payroll data for the months before and after March.