The Organization of the Petroleum Exporting Countries (Opec) and allies including Russia - a group known as OPEC+ - are set to meet on a video conference on Thursday.
MELBOURNE: U.S. crude futures rose as much as 6% in early trade on Thursday on expectations the world's largest oil producers would agree to cut production at a meeting later in the day as global oil demand has collapsed amid the coronavirus pandemic.
U.S. West Texas Intermediate (WTI) crude was trading up 4.9%, or $1.22, at $26.31 per barrel at 2229 GMT after touching a high of $26.61, adding to gains in the previous session.
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