Oil falls as investors weigh unprecedented accord on global production cut
13 April 2020 - 16:23
Oil surrendered gains after rising in early trading as investors weighed whether an unprecedented deal by the world’s biggest producers to cut output would suffice to steady a market reeling from the coronavirus.
Futures in London were down 0.6% after the Opec+ alliance agreed to slash production by 9.7-million barrels a day starting in May. The group reached a deal after days of intense negotiations after Mexico declined to endorse the original agreement reached on Thursday...
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