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Crude Spikes on OPEC Cut Extension Talk

OIL

Crude prices have jumped amid headlines from Reuters that OPEC+ is considering extending voluntary output cuts into Q2 and could keep them in place until the end of the year.

  • WTI APR 24 up 1.4% at 78.66$/bbl
  • WTI APR 24-MAY 24 up 0.13$/bbl at 0.62$/bbl
  • The issue has yet to be discussed formally by OPEC+, two of the sources told Reuters. A decision on the extension is expected by the first week of March.

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