Companies and policymakers are exploring ways to make their supply chains more resilient by “moving production home or to trusted countries,” the IMF said.
Both futures have since pared gains, with Brent crude last trading at $86.12 a barrel, and U.S. West Texas Intermediate futures at $80.53 per barrel.
OPEC+, a group of 23 oil-producing nations led by Saudi Arabia and Russia, will convene on Sunday to decide on the next phase of production policy.
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