OPEC could deliver a larger-than-expected production cut at its meeting later this week, according to MUFG Bank.
Oil prices have been under pressure since the outbreak of the coronavirus in January dampened the demand outlook for the year.
Following the “massive sell-off” in recent weeks, Ehsan Khoman, head of MENA research at MUFG, said his “baseline scenario” is 1.2 million barrels a day of additional production cuts from the second quarter of 2020 until the end of the year.
