Economy: Crude Oil Prices Rise amid Gradual Relaxation of Restrictions, Cut in Global Supply

May 22, 2020/Cowry Asset Report

In the just concluded week, crude oil prices increased given the commitments made by the Organisation of the Petroleum Exporting Countries (OPEC) and their allies to cut crude oil supply by 9.7 million barrels per day through the end of June 2020, from May 1, 2020; the production declines in non-OPEC countries; and as governments across the globe began subtle easing of lock down in their countries

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