Oil producer group OPEC and its companions will reportedly maintain an emergency digital assembly on Monday, with all members of the power alliance anticipated to participate in an effort to stabilize markets.

It comes lower than 24 hours after President Donald Trump advised CNBC that he anticipated OPEC kingpin Saudi Arabia and non-OPEC chief Russia to take as much as 15 million barrels of crude off the market.

Worldwide benchmark Brent crude traded at $32.78 a barrel Friday morning, up over 9%, whereas U.S. West Texas Intermediate (WTI) stood at $26.59, greater than 5% larger.

Brent settled up greater than 21% on Thursday, registering its finest day since contract inception in 1989, whereas WTI closed up over 24%, additionally marking its best-ever day by day rally. It leaves each benchmarks on tempo for his or her finest week since January 2009, though, year-to-date, Brent and WTI are nonetheless down greater than 54%.

On Friday, Azerbaijan's power ministry stated a digital assembly between OPEC producers and non-OPEC companions, an...