(Bloomberg) — Oil declined after an initial jump as an historic deal among the world’s top producers to cut global output by nearly a 10th failed to revive prices that have been pummeled by the coronavirus.Futures in New York rose as much as 9% but quickly reversed those gains as markets opened following a three-day break. The OPEC+ alliance agreed to a plan to slash production by 9.7 million barrels a day starting in May, ending a price war between Saudi Arabia and Russia. The producer group reached a deal following days of intense negotiations after Mexico declined to endorse …read more
Source:: Yahoo Finance
