(Bloomberg) — Expectations the OPEC+ alliance will deepen output cuts put a floor under last week’s 16% plunge in oil prices, with futures in New York rallying even as the coronavirus continued to spread rapidly.Russia is ready to cooperate to support the world oil market, even though it’s comfortable with current prices, President Vladimir Putin said Sunday. That acted as a brake on plunging crude prices after a Chinese manufacturing gauge released over the weekend came in at a record low, undershooting already low expectations and highlighting the virus’s mounting economic impact.Oil consumption may not grow at all this year …read more
Source:: Yahoo Finance
