Coronavirus
VERY HIGH
Pakistan Deaths
19,210
10424hr
Pakistan Cases
867,438
286924hr
Sindh
294,251
Punjab
322,117
Balochistan
23,655
Islamabad
78,560
KPK
125,392
Markets

Middle East Crude-Dubai rises ahead of OPEC+ meeting

  • OPEC+ has lowered its 2021 oil demand growth forecast by 300,000 barrels per day.
01 Apr 2021

SINGAPORE: Middle East crude benchmark Dubai rose on Thursday ahead of a meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, where they will discuss whether to keep in place curbs on output.

OPEC+ has lowered its 2021 oil demand growth forecast by 300,000 barrels per day, reflecting concerns about the market's recovery as new coronavirus lockdowns take hold, a move that could strengthen the case for a cautious output decision this week.

Cash Dubai, as quoted by price-reporting agency S&P Global Platts, rose in March to an average of $64.414 a barrel, the highest monthly average level since December 2019.