Citing an OPEC source, Reuters today reported OPEC and its allies would maintain their crude oil output cuts despite U.S. President Donald Trump’s recent criticism. “There is no doubt we will continue with our reduction as planned and we will push to reach the highest adherence to the cuts as we have decided before,” the OPEC source said. Commenting on the U.S. sanctions on Venezuela, the source exÄŸlained that there was no clear data on the impact of sanctions on Venezuela’s output levels.
On the same matter, The Wall Street Journal on Monday wrote that Saudi Arabia and other OPEC allies were looking to push to maintain output cuts when they meet in April.
Ahead of the weekly API crude oil stock report, the barrel of West Texas Intermediate is clinging to small gains on the day near $55.60.
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