Reports that OPEC+ may postpone March meeting to June
That would probably imply cuts to be automatically extended to June
There are reports that OPEC+ is looking to postpone the March meeting to June. That would likely imply that output cuts would be extended to June as well. The March meeting was intended to review the recent cuts in production.
The report is according to Tass who cites "sources".
Crude oil is currently trading at $58.43 up $0.35. The price high extended to $58.72 while the low for the day was down at $57.72.
Brent crude is trading at $64.73 up $0.55. The price high for the day extended to $65.04, while the low for the day reached $57.72.