Oil prices are going up in expectation of demand growth
On 9 June 2020 (08:20, Moscow time), Brent Crude Oil futures price grew by 0.29% to $40.92 per barrel, Light (WTI) for June delivery grew by 0.52% to $38.39 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.
On 6 June 2020, OPEC+ agreed to extend oil-production cuts by 9.7 million bpd till the end of July.