Oil leaps as major producers look to extend record production cuts through July
- Date: 02-Jun-2020
- Source: Markets Insider
- Sector:Financial Markets
- Country:Saudi Arabia
Oil leaps as major producers look to extend record production cuts through July
Oil continued its climb to past highs on Tuesday amid reports that OPEC+ members are eyeing extensions to record production cuts.. Brent crude , oil's international benchmark, leaped 3.2% to $39.55 at intraday highs.. Oil surged on Tuesday on reports that OPEC+ members want to extend record production cuts for at least one month.. Brent crude , oil's international benchmark, soared as much as 3.2% to $39.55 at intraday highs.. Saudi Arabia, OPEC's leading member, is reportedly in favor of extending cuts one to three months longer.. GOLDMAN SACHS: Buy these 25 beaten-down stocks all poised to jump more than 18% from current levels.