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OPEC Under Pressure To Ease Production Restrictions To 7.7 Million Barrel Per Day

Vlad Kovalenko in Oil (General)

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Vlad Kovalenko    + 115

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An alliance of crude producers led by Saudi Arabia is pushing OPEC and its allies to increase oil production starting in August, officials in the group said, amid signs that demand is returning to normal levels following coronavirus-related lockdowns.

https://www.marketwatch.com/story/opec-and-allies-set-to-ease-oil-output-cuts-anticipating-demand-recovery-2020-07-11

Does this finally mean oil will recover? I've heard split opinions, but this seems like good news, or at least good enough to restore faith in investors this coming week. 

 

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