Oil prices climbed in expectation of demand recovery
On 7 May 2020 (08:30, Moscow time), Brent Crude Oil futures price rose by 0.17% to $29.77 per barrel, Light (WTI) for June delivery climbed by 0.25% to $24.05 per barrel.
Analysts expect further growth to be restrained by the excess of crude oil.
On 12 April 2020, OPEC+ approved new oil output cut by 9.7 million bpd in May-June, 7.7 million bpd in the second half and 5.8 million bpd by May 2022.