5:14 AM · 6 April 2020

BREAKING: Oil drops as producers delay meeting

Oil launched the week with massive decline. Brent and WTI dropped around 8% at the open after OPEC+ meeting has been postponed to, at least, Thursday, April 9. Postponement is said to be caused by a rift between Saudi Arabia and Russia. However, oil has been steadily rising throughout the Asian session and has already retraced more than a half of the drop.

Oil price dropped significantly on OPEC+ meeting postponement. However, recovery is underway. Source: xStation5

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