Brent Oil 26.25usd, +1.02, 3.88%
Brent oil today is trading on 26.25usd and it is recorded that it went up with almost 4 percent .The major oil producers of OPEC and Russia have begun their move already of cutting down oil production in order to balance with the low demand that is there right now because of the coronavirus situation that caused a shutdown of businesses and lockdown . The members of OPEC and other major producers like Russia are working on the imbalance between oil supply and demand by reducing it by 13.6 million barrels per day (bpd) in May, and drop further to 6.1 million bpd in June.