(Bloomberg) — Crude advanced as Russian oil companies met with Energy Minister Alexander Novak to discuss the possibility of delaying an easing of OPEC+ output cuts by three months.Futures were 2.4% higher in New York, bouncing back from an abrupt plunge to a five-month low earlier in the session. The producer group, led by Russia and Saudi Arabia, was already considering postponing the supply increase planned for January as crude prices faltered amid renewed lockdown measures.Uneven global demand and a looming U.S. election is “creating overall uncertainty,” said Gary Cunningham, director of account management and research at Tradition Energy. Yet, …read more
Source:: Yahoo Finance
