Oil gains more than 1% on hopes for output cuts to counter China virus impact

February 5, 2020 admin Business News Comments Off on Oil gains more than 1% on hopes for output cuts to counter China virus impact

Oil prices climbed more than 1% on Wednesday, boosted by news that OPEC and its producer allies are weighing further output cuts to counter a potential squeeze on global oil demand resulting from China’s fast-spreading coronavirus.

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Source:: Reuters – Business News