OPEC and its allies, led by Russia, pressed for better compliance with oil output cuts on Thursday against the backdrop of falling crude prices as uncertainty reigns over the global economic outlook. The group, known as OPEC+, warned that rising COVID-19 cases in some countries could curb energy demand despite initial indications of a decline in oil stocks, according to a copy of a report by the group’s technical panel seen by Reuters on Thursday. The panel of major producers, including Saudi Arabia and Russia, is unlikely to recommend any changes to their current output reduction target of …read more
Source:: Yahoo Finance
