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Oil prices rose on May 26 as confidence grew that OPEC+ producers are sticking to output cuts and that fuel demand is recovering with lockdowns easing. Brent gained about 1.4% to near $36 and WTI rose about 2.6% to near $34.
Russia said its output had nearly reached its May-June target, and OPEC+ plans to meet in early June.
Adherence to cuts and returning fuel demand support crude prices, which lifts diesel and freight costs for feed producers.
tribune.newspackstaging.comreutersMay 26, 2020
oilandgas360.comOil & Gas 360May 26, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
