Oil futures point higher Sunday night after OPEC+ extends output cuts to July

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OPEC now the oil cartel held a meeting over the weekend the virtual meeting obviously we're decided to extend record cuts in oil production through July the idea of course being to keep oil prices up marketplace's Kimberly Adams reports the decision comes on the back of months of major volatility in the oil markets global demand for oil fell off a cliff as country after country locked down during the pandemic that's meant lower gas prices for consumers but a tough time for oil producers now that countries are starting to open up oil price trends are reflecting the change Robert Johnston is with the Eurasia group key parts of the world it's got it all traces back almost forty dollars a barrel and we had negative pricing for elite US will also come back a long ways so the question is ready go from here maybe not that far says Louise Dickson at restart energy she says oil's recovery will be slow and stunted by the sheer economic impact of countries and economies in GDP overall lower household spending left in this travel fewer people buying new vehicles and any recovery will also depend on what happens next with the

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