OPEC and its allies rubber-stamped the standard 432,000 barrel-a-day increase for June
OPEC+ is reviving supplies after its deep cuts at the start of the pandemic in 2020
Nationwide US crude inventories increased by 3.29 million barrels last week
If there is a deal on Sunday, it is unclear how quickly additional supplies can be delivered to the market
The UAE’s energy ministry issued a statement acknowledging that talks are underway
Members have decided to add 500,000bpd of production to the market next month, then hold monthly meetings to decide on subsequent moves
Demand for the 787 has been particularly hard hit, with international travel down 90 per cent from a year ago
The accord caps a tumultuous month when Brent crude plunged to its lowest in nearly two decades, falling toward $20 a barrel