Oil traders are giving OPEC+ the benefit of the doubt this week as prices soar to 3-month highs The second wave of COVID-19 in both Beijing and the U.S. is threatening to slow down economic recovery In the most bearish scenario, we could see WTI falling back to $28 U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are trading higher on Friday and in a position to close higher for the week after OPEC producers and allies promised to meet supply cuts and signs of demand, hit the coronavirus crisis, recovering. OPEC+ Laggards Pledge Better Compliance Iraq and Kazakhstan, during a meeting of an OPEC+ panel on Thursday, pledged to comply better with oil cuts, sources said. This means curbs by the Organization of Petroleum Exporting Countries and allies, known as OPEC+, could deepen in July. The strong comeback in the crude oil market after weakness earlier […]