Oil snaps six-session down streak as OPEC+ output cuts come into focus

摘要

Crude and product futures settled higher Monday amid optimism forOPEC+ to agree to further output cuts to offset coronavirus-stunteddemand outlooks.ICE May Brent settled up $2.23 at $51.90/b and NYMEX April WTIfinished up $1.99 on the day at $46.75/b.Lukoil Vice President Leonid Fedun said Monday he expects OPEC+to agree to further output cuts, which could be more than 1 million b/d,with Russia agreeing to cut 200,000 b/d-300,000 b/d of production,the Prime news agency reported.