Oil jumps $4 as OPEC+ weighs biggest output cut since 2020

By Noah Browning

LONDON (Reuters) -Oil prices jumped by about $4 on Monday as OPEC+ considers reducing output by more than 1 million barrels per day (bpd) to buttress prices with what would be its biggest cut since the start of the COVID-19 pandemic.

Brent crude futures rebounded by $3.77, or 4.4%, to $88.91 a barrel by 1226 GMT. U.S. West Texas Intermediate crude was up $3.95, or 5%, at $83.44.

Oil prices have tumbled for four straight months since June, as COVID-19 lockdowns...