OPEC Wants To Extend Oil Production Cuts Until June

OPEC is inclined to extend the ongoing production cuts at least through June and could discuss deeper cuts if need be, OPEC sources told Reuters on Tuesday, as oil prices continue to slide on fears that the coronavirus outbreak in China will impact oil demand. OPEC is very likely to extend until June the current cuts, which expire in March, one source in OPEC told Reuters, while another added that “A further extension is a strong possibility and a deeper cut is a possibility.” The cartel could also consider rolling over the cuts as-is…