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The OPEC meeting with non-members — dubbed OPEC Plus — has decided to meet monthly to review the production cuts of just over 7 million barrels per day imposed to restrain the decline in oil prices due to the pandemic recession, which has cut the demand for fuel. On top of that, Saudi Arabia has been keeping 1 million barrels a day off the market as part of voluntary cuts on its own.
Oil prices rose 1.7%+ of the meeting to $60.30/barrel in trading on New York Mercantile Exchange. Brent crude rose 1.8% to $63.89/barrel. OPEC's production restraint & running economic recovery has helped prices recover from around $48/barrel for NYMEX crude at the start of year
Dutch police say the blast was caused by fireworks and are appealing for witnesses. No injuries have been reported following the incident. "Neighbors were startled this morning by a loud bang," police said in a statement. Earlier this month, an explosion destroyed windows at a COVID-19 testing center in the northern town of Bovenkarpsel. The blast occurred on the first night of a national curfew in the Netherlands.
On Tuesday, Dutch authorities said it would extend anti-virus restrictions until April 20, while reducing the duration of the curfew by one hour.