Oil boosted by hopes for success at Opec-Russia meeting on cuts
Curtailed output will push up prices knocked by coronavirus pandemic
08 April 2020 - 07:41
Seoul — Oil bounced back on Wednesday, with US crude jumping more than $1, lifted by hopes that a meeting between Organisation of Petroleum Exporting Countries (Opec) members and allied producers on Thursday will trigger output cuts to shore up prices that have crumbled amid the coronavirus pandemic.
Brent crude was up by 75c, or 2.4%, at $32.62 per barrel by 0246 GMT after falling 3.6% on Tuesday. US West Texas Intermediate (WTI) crude rose $1.30, or 5.5%, to $24.93 a barrel after dropping 9.4% in the previous session...
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