Oil prices fluctuated on April 13 as the positive impact of major producers agreeing to record global output cuts was offset by concerns they will not be sufficient to reduce a glut as the CCP virus pandemic hammers demand.
After four days of wrangling, the OPEC+ group of oil producers, comprising the Organization of the Petroleum Exporting Countries, Russia, and other countries, agreed to cut output by 9.7 million barrels per day (bpd) in May and June, representing about 10 percent of global supply.
