(Yicai Global) April 13 -- Crude Future in Shanghai's international energy trading center vaulted at opening today after the OPEC and Russia reached a production cut agreement.

The most active traded contract for June delivery on the Shanghai market traded at CNY295.4/barrel, up 1.30 percent after rising more than 3 percent earlier in the day.

Saudi Arabia and Russia reached an agreement with other oil producers yesterday to cut oil output by a record 9.7 million barrels per day for the next two months to support oil prices amid the coronavirus pandemic, according to an OPEC statement.

Editor: Ben Armour