Oil prices rose on the eve of an OPEC+ meeting, while investors believe that producers will largely agree to extend curbs on their supplies until May.<\/p>\n\n\n\n
OPEC+ raised concerns about the increase in the number of Coronavirus cases globally and that the general isolation measures will affect the recovery of oil demand, according to a report issued by a meeting of an OPEC expert team committee and reviewed by Reuters.<\/p>\n\n\n\n
Brent crude futures for May delivery, which expire on Wednesday, rose 32 cents, or 0.5%, to $ 64.46 a barrel by 05:25 GMT, after falling 1.3% on Tuesday. Brent futures, the most active for June delivery, rose 25 cents, or 0.4%, to $ 64.42 a barrel.<\/p>\n\n\n\n
The benchmark crude fell 2.5% since the beginning of this month, compared with an 18% increase in February.<\/p>\n\n\n\n
US West Texas Intermediate crude futures rose 26 cents, or 0.4%, to $ 60.81, after falling 1.6% in the previous session.<\/p>\n\n\n\n
OPEC+ last month surprised the market by agreeing to extend supply curbs, with the limited exception of Russia and Kazakhstan, at a time when fuel demand appeared to be recovering.<\/p>\n\n\n\n
Under the current restrictions, OPEC, led by Saudi Arabia, and non-OPEC producers, led by Russia, are cutting more than seven million barrels per day, while Saudi Arabia implements a voluntary additional production cut of one million barrels per day.<\/p>\n","protected":false},"excerpt":{"rendered":"
Oil prices rose on the eve of an OPEC+ meeting, while investors believe that producers will largely agree to extend curbs on their supplies until May. OPEC+ raised concerns about the increase in the number of Coronavirus cases globally and that the general isolation measures will affect the recovery of oil demand, according to a …<\/p>\n","protected":false},"author":9,"featured_media":31093,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[6846],"class_list":["post-43707","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-oil"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/43707","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=43707"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/43707\/revisions"}],"predecessor-version":[{"id":43711,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/43707\/revisions\/43711"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/31093"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=43707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=43707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=43707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}