Energy

Oil producers to review supply cuts amid Covid crisis

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LONDON — A group of some of the world’s most powerful oil-producing nations will meet on Thursday to discuss the next phase of production policy amid the ongoing coronavirus crisis.

OPEC and its non-OPEC partners, an energy alliance sometimes referred to as OPEC+, will convene via videoconference from 1 p.m. London time. A press conference is scheduled to take place following the conclusion of the meeting.

Analysts broadly expect OPEC+ to reverse some of the output cuts it made last year, although oil prices whipsawed on speculation that the group may decide against increasing supply.

International benchmark Brent crude futures traded at $63.78 a barrel during morning deals, down almost…



Source cnbc.com

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