OPEC ministers expect to hear Russia’s position on crude production cuts on Friday to be able to take a final decision. On Thursday, the cartel agreed an additional reduction of crude oil output by 1.5 mln barrels per day in the second quarter of 2020 by OPEC+ countries to neutralize …

OPEC further slashed its 2020 oil demand growth forecast on Thursday due to the coronavirus outbreak and agreed to new output cuts to offset the collapse in oil demand resulting from the epidemic. Global oil demand growth in 2020 is now forecast to be just 480,000 b/d, down from 1.1 …