Oil rises as Opec flirts with deeper cuts
Brent lifts 1.5% as Opec+ panel recommends additional 1-million bpd output cuts
04 March 2020 - 07:44
Singapore — Oil prices jumped 1.5% on Wednesday on hopes that major producers have made progress towards sealing an agreement to implement deeper output cuts aimed at offsetting the slump in demand caused by the global coronavirus outbreak.
Brent crude rose 78c, or 1.50%, to $52.64 a barrel at 5.02am GMT, after settling down 4c in the previous session. US West Texas Intermediate (WTI) futures rose 72c, or 1.53%, to $47.90 a barrel, up for a third session...
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