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Oil futures up 3.0 pct. after upbeat economic data, projections

Prices of oil futures rose over 3.0 percent on Tuesday after economic data signalled that the world's two largest economies are on the path to recovery from the coronavirus pandemic. 

NEWS IN ENGLISH 06.04.2021, 19:58
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Oil futures up 3.0 pct. after upbeat economic data, projections
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United States Bureau of Labor Statistics revealed that job openings in the country rose to better-than-expected 7.4 million in February, while China's services sector activity grew at an accelerated pace in March, according to IHS Markit.
Furthermore, the International Monetary Fund (IMF) raised its global GDP growth projection for the current year by 0.5 percentage points to 6 percent.
Brent for June deliveries was up 2.75 percent, going for 63.88 dollars per barrel, while West Texas Intermediate (WTI) for settlements in May gained 3.19 percent to sell for 60.56 dollars per barrel.
Ministers of Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+) members voted during their Joint Ministerial Monitoring Committee (JMMC) on Thursday to ease oil output cuts by 350,000 barrels per day in May and June and by 450,000 in July, Energy Intelligence reported.
Saudi Arabia will also ease its previous voluntary cuts of 1.0 million barrels per day by 250,000 in May, 350,000 in June and 400,000 in July.

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