Brent Crude Rises to Above $42 a Barrel

Oil rose to above $42 a barrel on Friday, adding to gains in the previous session, after OPEC producers and allies promised to meet supply cuts and signs of demand, hit by the coronavirus crisis, recovering.

Iraq and Kazakhstan, during a meeting of an OPEC+ panel on Thursday, pledged to comply better with oil cuts, sources said. This means the curbs by the Organization of Petroleum Exporting Countries and allies, known as OPEC+, could deepen in July.

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