Crude futures were higher in mid-morning trade in Asia Wednesday after plunging overnight as a jittery market awaited the OPEC+ meeting on Thursday and G20 meeting on Friday for cues. At 10 am Singapore time (0200 GMT), ICE Brent June crude futures were up 72 cents/b (2.26%) from Tuesday’s settle at $32.59/b, while the NYMEX May light sweet crude contract was $1.30/b (5.50%) higher at $24.93/b. “The possibility of output cuts from OPEC+ and beyond continue to be the main driver for prices and is expected to remain so until the output decision is reached on Thursday,” OCBC analysts said in a note Wednesday. “For such an unprecedented output cut to occur, we think some kind of participation from the US needs to materialize, otherwise there is little incentive for global cooperation,” the […]