[Infostock Daily= Reporter Park Hyo-sun] US crude oil futures have rebounded sharply in three months, with expectations that major oil-producing countries will extend the largest production cut by two months.
On the 2nd(local time), West Texas Intermediate crude oil for delivery in July rose $1.37 (3.9%) to $36.81 a barrel, the highest since March 6.
According to local media in the United States, the Organization of Petroleum Exporting Countries(OPEC+), a coalition of oil-producing countries led by Saudi Arabia and Russia, is considering extending the deadline for the output cuts of 9.7 million barrels to the end of August by two months.
Major oil producing countries will hold meetings and discuss output cuts.
Reporter Park Hyo-sun hs1351@infostock.co.kr
