Futures Movers: Oil prices on track for April decline despite OPEC+ production cuts

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Oil futures were on track Friday to end April with a loss, with worries over the economic outlook and its implications for demand having sapped the rally that kicked off the month after Saudi Arabia and its OPEC+ allies announced a surprise round of production cuts.

Price action
Price action

Crude futures this week filled the gap left on the daily price chart early this month after Saudi Arabia and its OPEC+ allies announced 1.15 million barrels in additional production cuts beginning in May running through…