By Stephanie Kelly | Reuters | New York |
Topics Crude Oil Price | OPEC output | OPEC Russia oil deal
Oil prices fell 1% on Thursday after OPEC+ agreed to ease record supply curbs and as new infections of the novel coronavirus continue to surge in the United States.
Both benchmark Brent and U.S.
crude have remained above $40 a barrel for the last several weeks. The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, lowered daily supply beginning in May and demand worldwide has rebounding, helping prices to stabilize. Fears of a second wave of cases of Covid-19 - led by the United States - are keeping.
This article is no longer available in our repository.
There could be multiple reasons for this.
You could try searching for this headline on the source website (bloomberg.com).