Oil prices rose on Thursday on expectations the world’s largest oil producers would agree to cut production at a meeting later in the day as the industry grapples with a coronavirus-driven collapse in global oil demand. U.S. West Texas Intermediate (WTI) crude futures were up 5%, or $1.27 cents, at $26.36 a barrel, after earlier climbing by as much as 6.1%. The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia – a group known as OPEC+ – are set to convene a video conference meeting on Thursday. …read more
Source:: Yahoo Finance
