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Oil Prices Gain; OPEC Meetings in Focus
Thursday, 5 March 2020 13:42 WIB | ENERGY |Minyak WTIMinyak MentahMinyak Brent

Oil prices gained on Thursday in Asia as traders assessed the latest news on OPEC's meeting this week.

U.S. Crude Oil WTI Futures gained 1.4% to $47.45 by 1:36 AM ET (05:36 GMT). International Brent Oil Futures also rose 1.6% to $51.96.

Earlier reports suggested that the OPEC+ alliance would agree to a total production cut of at least 1 million barrels per day from this quarter onward to combat the impact caused by the novel coronavirus outbreak.

However, Bloomberg later reported that Russian Energy Minister Alexander Novak had left Vienna, ahead of Friday's all-important meeting with the Saudis and the customary news conference that would announce the new deal.

Source : Investing.com

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