Oil prices rise within $1
Oil prices are going up in expectation of crude production cuts to be continued by OPEC+
On 2 June 2020 (07:49, Moscow time), Brent Crude Oil futures price increased by 0.86% to $38.65 per barrel, Light (WTI) for June delivery fell by 0.56% to $35.64 per barrel.
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.
OPEC and non-OPEC Ministerial Meeting is to be held via videoconference on 9-10 June 2020.