News

2020 April 29 10:23

Oil prices recover by 2-11%

On 29 April 2020 (08:37, Moscow time), Brent Crude Oil futures price climbed by 2.22% to $13.69 per barrel, Light (WTI) for June delivery rose by 10.86% to $13.69 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. Some countries are ready to start cutting their output earlier.