4/7, 7:12 PM (Source: TeleTrader)
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EIA expects no OPEC+ deal extension in April

A meeting of the Organization of the Petroleum Exporting Countries and its allies (OPEC+) on Thursday will not bring an extension of the oil output cut deal that previously expired on March 31, the Energy Information Administration (EIA) claimed on Tuesday.

"Despite the latest news about OPEC + emergency meetings in the coming days to discuss production levels, the EIA does not expect a renegotiation of the OPEC + agreement during the forecast period [April]," the EIA's report said.

West Texas Intermediate for settlements in May lost 0.92% to sell for $25.84 per barrel, while Brent for the same month's delivery decreased by 0.39% a minute later, going for $32.92 per barrel.

Breaking the News / GA