OPEC+ meeting extends cuts

OPEC+ has agreed to extend full oil production cuts through to the end of July in a meeting over the weekend designed to further rebalance the market amid pandemic-driven demand destruction. 

OPEC+ meeting extends cuts OPEC+ meeting extends cuts OPEC+ meeting extends cuts OPEC+ meeting extends cuts OPEC+ meeting extends cuts

An online OPEC+, credit: Amena Bakr

 
Oil is now at its highest point since March 6, when OPEC leader Saudi Arabia and Russia, titular leader of the ‘Plus' grouping couldn't agree to further, smaller production cuts.