Oil heads for another weekly gain on signs that demand is recovering from the coronavirus-driven collapse as countries around the world eased lockdown restrictions. The latest EIA data showed crude inventories unexpectedly dropped by 4.983 million barrels per day last week. On the supply side, news of additional OPEC production cuts on top of the reduction previously agreed under the latest deal offered additional support to oil markets. WTI crude advanced more than 15% so far this week, while Brent rallied nearly 10%.
