US
Brent hovers around $30 per barrel as weak demand picture curbs gains
New outbreaks have been reported in South Korea and China
Global oil demand slumps about 30% as crisis hits hard
UAE, Kuwait also announce production cut by a total 180,000 bpd
Concern over persistent glut cancels out support from supply cuts by biggest producers
More countries move ahead with plans to relax economic and social lockdowns
US output cuts, slow return of some activity in Europe lend further support
Brent crude price almost doubles since hitting 21-year low on April 22
Glut created over months in oil storage facilities will loom over markets
Brent crude hit near 21-year low last month as pandemic squeezed demand