TODAY CRUDE OIL NEWS UPDATE

Oil prices gained on Monday in Asia following reports that Saudi Arabia oil minister Khalid al-Falih said there will be no OPEC+ output policy change until June.Al-Falih told Reuters on Sunday it would be too early to change OPEC+ output policy at the group’s meeting in April.”We will see what happens by April, if there is any unforeseen disruption somewhere else, but barring this I think we will just be kicking the can forward,” he said, adding that output for Saudi Arabia in April was expected to remain at this month’s level of 9.8 million barrels per day (bpd.)”Aramco is finalizing their April allocations today or tomorrow so we will know more on Monday. But my expectation is that April is going to be pretty much like March.”

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