OPEC Plus considered cutting oil production

Описание: The markets were heavily influenced today by the suggestion OPEC Plus will cut its oil production by a million barrels a day.

Commonwealth Bank commodities analyst Vivek Dhar says OPEC Plus produces around three and a half million barrels a day below what its quota production suggests.

"So this is more a signal of intention," he told Sky News Business Editor Ross Greenwood.

"On the physical side, we're not going to see this impact come through, materially, just given the fact that they're underproducing what they promise for months now."