Brent oil price nears $40 a barrel on talk of more output cuts
Brent has doubled in the past six weeks, thanks to supply cuts by oil cartel Opec and its allies, including Russia
02 June 2020 - 12:57
London — Oil prices rose on Tuesday on expectations that major producers would agree to extend output cuts that have shored up prices, during a video conference likely to be held this week.
Benchmark Brent crude rose 2.3%, or 88 US cents, to $39.20 a barrel as of 8.40am GMT. US West Texas Intermediate (WTI) crude climbed 2%, or 72c, to $36.16 a barrel...
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