Oil prices rose 3% in trading on Monday, after more countries announced that they would start easing public isolation measures linked to the outbreak of the Corona virus while the largest producing countries in the world began Reductions in raw supplies.

The global demand for fuel fell by about 30% last April, due in large part to orders to stay at home.

A weak consumption is expected to result in excess supply remaining in the market for months even as major global producers reduce production from May 1.


Brent crude contracts ended the trading session higher by 76 cents, or 2.9%, to settle at the settlement of $ 27.20 per barrel.

The US benchmark West Texas Intermediate crude contracts rose 61 cents, or 3.1%, to settle at the settlement of $ 20.39 a barrel.

The two benchmarks continued to rise in post-settlement deals, extending their gains to more than 5%.

US investment bank Goldman Sachs said it is increasingly optimistic about the rise in crude prices next year due to lower crude production and a partial recovery in oil demand.