Oil Leaps on Potential Global Output Cuts, Though Doubts Persist

• Global producers are set to meet via video conference Monday
• Analysts say any supply curbs may prove too little, too late

Oil posted a record weekly jump on hopes that global producers will decide to make historic output cuts next week, though optimism was tempered by concern that the curbs won’t avert a glut.
The OPEC+ coalition including Saudi Arabia will hold a meeting of its members by video conference on Monday, with the gathering open to even producers outside the group. While it’s unclear who will attend, market watchers are predicting that stockpiles are likely to swell even if global supplies are cut by 10 million barrels a day.
Read more here: https://www.bloomberg.com/news/articles/2020-04-02/oil-pauses-near-25-after-trump-output-deal-causes-record-surge