OPEC+ Deal Fails To Give Prices Major Boost

OPEC+ agreed on Saturday to extend 9.7-million-bpd cuts in daily crude oil production through the end of July, lending oil prices some support, but far less than some may have expected. According to Reuters, the moderate increase in prices was a result of disappointment among traders that the extension was only by a single month. However, this was made clear from the beginning of negotiations, and there was even internal opposition to this extension that made reaching an agreement that much harder. Monday morning prices saw Brent crude trading…