OPEC+ cuts could extend to June

The current round of crude oil production limits agreed in December could be extended to June if oil demand in China is significantly impacted by the coronavirus, Reuters reports.

The coronavirus in China has led to a sharp drop in the oil price, with Brent crude futures falling more than $5/bl over the last week.

The current OPEC+ production cuts of 1.7M b/d are due to expire at the end of March.