Barely a month on from the collapse of OPEC+ and the subsequent slump in oil prices, the crude producers’ group has announced it will attempt another round of negotiations via an online meeting on Monday (April 6), prompting a price spike.
At one point on Friday (April 3), the Brent June contract was up by as much as 10% or $3 to $32.92 per barrel as proposals for an OPEC+ meeting emerged, before shedding some of the gains down to $32.58; an uptick of 8.8% at the time of writing (6:44am EDT).
