Since the start of April Brent has nearly doubled, propped up by the unprecedented production cut of 9.7 million barrels per day.

Oil climbs over 2% after OPEC deal

During the virtual meeting on Saturday, the cartel agreed that the countries that were unable to reach full conformity in May and June will have to compensate for this in July, August and September.

OPEC+ Agrees On Extending Record Output Cuts

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Oil climbs over 2% after OPEC deal

OPEC+ Agrees On Extending Record Output Cuts