OPEC+ source: OPEC+ wants to keep oil output cuts of 9.7 million BPD beyond June
Four OPEC+ sources
Four OPEC+ sources are saying:
- OPEC+ wants it to keep oil output cuts of 9.7 million BPD be on June and not to scale back
Given the oversupply and uncertainty of demand as a result of the coronavirus, the decision makes sense.
WTI crude oil futures for July delivery is trading up $1.17 or 4.63% at $26.25 today