Muted Response From U.S. Oil Prices After OPEC Supply Deal, Reflecting Challenges Ahead

U.S. oil prices reacted tepidly on Monday to an agreement by the Organization ofthe Petroleum Exporting Countries (OPEC) and its allies to slash output by an unprecedented 9.7 million b/d during May and June, illustrating the formidable challenge posed to the market by the Covid-19 pandemic.

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