Brent Crude Oil price exceeded $40
Oil prices are going up in expectation of OPEC+ meeting
On 3 June 2020 (08:20, Moscow time), Brent Crude Oil futures price increased by 1.49% to $40.16 per barrel, Light (WTI) for June delivery grew by 2.42% to $37.69 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.