OPEC Secretary-General Mohammad Barkindo crossed the wires in the last minutes saying that they are optimistic the oil market is on course to gain stability, per Reuters.
“Countries are ramping up compliance with the global oil deal,” Barkindo added. “The numbers we are seeing now suggest 2020 may have upside potential. A deeper oil cut is in question now”
Crude oil prices seem to be edging higher on these comments. As of writing, the barrel of West Texas Intermediate (WTI) was up 1% on the day at $57.05.
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