Oil prices declined to erase early week gains as traders continued to weigh the supply and demand outlook. OPEC+ agreed on extending production cuts till the end of Q2, while demand outlook remains fragile. The US oil is currently trading at $78.14, the next level of support could come in at $77.50 ahead of $75.70, while on the upside, the first line of resistance could come in at $80.40 ahead of $81.95.