Brent fell $1.19, or 4%, to $28.41 a barrel, WTI slid 45 cents, or 2.2%, to $19.66.

The deal calls on OPEC, Russia and nine other allies to cut 9.7 million b/d of crude production in May and June, ramping down to 7.7 million b/d for the second half of 2020, and then 5.8 million b/d for all of 2021 through April 2022.

The government of India plans to move 19 mbl of oil into its strategic petroleum reserves (SPR) by the end of May 2020,

Brent fell 8 cents, or 0.3%, to $31.66 a barrel, WTI was down 36 cents, or 1.6%, at $22.05

This is Saudi Arabia's second consecutive monthly price cut after it slashed crude prices by $5-$8/b for April loading crude last month.

Crude oil production from the major US onshore regions is forecast to decrease 183,000 b/d month-over-month in April from 8,709 to 8,526 thousand barrels/day, gas production to decrease 869 million cubic feet/day from 84,027 to 83,158 million cubic feet/day .

Baker Hughes has approved a plan that will result in restructuring, impairment, and other charges of approximately $1.8 billion

Brent rose 16 cents, or 0.5%, to $31.64 a barrel, WTI were up 37 cents, or 1.6%, to $23.13 a barrel

effective oil supply cuts by OPEC and its allies, a group known as OPEC+, will amount to 12.5 million barrels per day

OPEC led by Saudi Arabia and its allies led by Russia, which together make up the informal OPEC+ group, had forged a pact to curb crude production by 10 million barrels per day (bpd) or 10% of global supplies in marathon talks on Thursday.

We will use the SPR to store as much oil as possible," US Energy Secretary Dan Brouillette said at a G20 energy summit. "This will take surplus oil off the market at a time when commercial storage is filling up and the market is oversupplied."

Podcast/Audio - COVID-19 and the considerable impacts both positive and negative that it will have on the world of Energy

Markets were closed for the Good Friday holiday in major centres. But on Thursday, Brent oil prices LCOc1, which hit an 18-year low last month, were trading around $32 a barrel, half their level at the end of 2019.

Adjust downwards their overall crude oil production by 10.0 mb/d, starting on 1 May 2020, for an initial period of two months that concludes on 30 June 2020. For the subsequent period of 6 months, from 1 July 2020 to 31 December 2020, the total adjustment agreed will be 8.0 mb/d. It will be followed by a 6.0 mb/d adjustment for a period of 16 months, from 1 January 2021 to 30 April 2022.

Under the proposed deal, the 10 million b/d OPEC+ cuts would cover the months of May and June, and then be rolled back to 8 million b/d for the rest of 2020, and then down to 6 million b/d for all of 2021 through April 22,