Oil climbs more than $1 a barrel as OPEC, allied producers agree record output cut; gains capped amid coronavirus concerns
Total global oil supply cuts could come to 20 million barrels per day, around 20 percent of global supply, Kuwait’s oil minister said.
Oil extends losses into second session; Russia, OPEC likely to boost crude output to fight for market share with US
Brent crude oil futures were at $71.08 a barrel, down 10 cents, or 0.1 percent, from their last close. Brent ended down 0.5 percent on Monday.
Brent crude touched a low of $71.12 a barrel after settling at a four-year closing low on Thursday, when Saudi Arabia blocked calls from poorer members of the cartel to cut production to stem a slide in global prices.