Oil rises despite OPEC+ sticking to output hike amid India COVID surge
Reuters | Apr 27, 2021 10:34 PM EDT
Pipelines run down the deck of Hin Leong s Pu Tuo San VLCC supertanker in the waters off Jurong Island in Singapore (Photo : REUTERS/Edgar Su/File Photo)
Oil prices edged higher on Tuesday as OPEC, Russia and their allies agreed to stick to plans to raise output slightly from May 1, suggesting they don t see a lasting impact on demand from India s coronavirus crisis.
OPEC+, as the producer group is known, has also ditched plans to hold a full ministerial meeting on Wednesday, sources said. A technical meeting on Monday had voiced concern about surging COVID-19 cases but kept its oil demand forecast unchanged.
Oil price rises despite OPEC+ sticking to output hike amid India COVID surge
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