Oil Rises To $38 As OPEC+ Discusses Production Cut Extension
You're listening to the news at this time when Africa Business Radio. Station of Petroleum Exporting Countries and its allies led by Russia a moving closer to a compromise on extending current oil output concerts and are discussing the proposals role oversupply curbs for one to two months. The international oil price benchmark Brent screwed stood at thirty eight point five one dollars per barrel as of nine thirty PM, manager and time on Monday. OPEC and its allies a group called OPEC plus decided in April two outputs by a record, nine point, seven million barrels per day, or about ten percents of global output, so leaves fries spotted by demand, DRP linked to lockdown measures aimed at stopping the spread of the coronavirus. Reuters quoted sources as saying that rather than easing output cuts in July. The factor opaque leaders are there was leading discussions on sustaining them until the end of the year, an OPEC source said there was support for Russia's proposal for an extension of one month, but added that there are no consensus on its yet. And that was the knees at this time on Africa business reading you can continue to in life. Online at www does advocate business radio, DOT, com or mobile APP? Thank you for listening.