Oil prices climb as quarantine measures are being eased
On 8 May 2020 (07:50, Moscow time), Brent Crude Oil futures price rose by 1.49% to $29.9 per barrel, Light (WTI) for June delivery climbed by 1.83% to $23.98 per barrel.
Investors expect the fuel demand to recover after a fall caused by the pandemic.
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.