The Rising oil prices make further easing of OPEC + oil production cuts more likely after AprilReuters reported on Monday, citing OPEC + sources familiar with the matter.
“The oil market may be set for a 500,000 barrel-a-day boost in April, depending on demand and if Saudi Arabia reintroduces voluntary cuts all at once,” the sources noted.
Market reaction
The barrel of West Texas Intermediate (WTI) retreated modestly from the session highs after this headline and was last seen shedding 0.40% daily at $ 59.80.
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