It’s been a great day for oil markets and, by extension, for crude producers. Brent crude is up more than 5 percent on the day, cracking $40 per barrel for the first time since the first week of December, and America’s WTI benchmark is only a couple of dollars behind. As the FT reports, prices are rebounding as petrostates prepare to meet later this month to hammer out an agreement to freeze production at current levels, building on a previous provisional deal between Russia, Saudi Arabia, Venezuela, and Qatar:
Sentiment in the oil market has improved as major Opec and non-Opec …read more
Source: The American Interest
