Crude oil futures were higher in mid-morning trade in Asia Thursday on hopes of a production cut emerging from the OPEC+ webinar meeting slated for later in the day, which were tempered by doubts over whether the scale of the cut could fully compensate for the COVID-19 demand destruction, as well as the extent of US involvement in the talks. Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 11:21 am Singapore time (0321 GMT), June ICE Brent crude futures were up 49 cents/b (1.49%) from Wednesday’s settle at $33.33/b, while the NYMEX May light sweet crude contract was 72 cents/b (2.87%) higher at $25.81/b. “The important outcome from these meetings will be signaling constructive supply-side behavior as the global economy and oil demand recover from the pandemic,” AxiCorp chief market strategist Stephen Innes said in a note Thursday. This view […]