Oil settles up more than $2 despite Opec+ production cuts

New pandemic waves create uncertain demand outlook

Hopeful: Russian Energy Minister Alexander Novak said he is hopeful that global oil inventories return to their normal level in two to three months
Hopeful: Russian Energy Minister Alexander Novak said he is hopeful that global oil inventories return to their normal level in two to three monthsPhoto: REUTERS/SCANPIX
Published 1 April 2021, 21:36Updated 1 April 2021, 22:00