Coronavirus: OPEC+ warns of COVID-19 impact, sees signs of decline in oil overhang

Coronavirus: OPEC+ warns of COVID-19 impact, sees signs of decline in oil overhang

An OPEC+ technical panel warned that a rise in coronavirus cases in some countries may curb oil demand despite signs of economic recovery and initial indications of a decline in oil stocks, according to an internal document seen by Reuters on Thursday.

Later on Thursday, OPEC and allies, led by Russia, are scheduled to hold an online meeting to discuss compliance with their agreed output cuts and demand trends amid falling oil prices and a faltering economic recovery outlook.

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