Oil held near $40 a barrel in Asia, with gains capped by uncertain prospects for a demand recovery from coronavirus as OPEC+ producers start to unwind their production cuts. Futures in New York rose as much as 0.4% before declining 0.4%, after gaining 0.9% on Friday. The market rose 2.5% in July as the producer bloc’s historic output curbs helped to ease a supply glut brought on by pandemic lockdowns. However, the rally has stalled north of $40 amid a resurgence of the virus across U.S. southern states. Cases in California accelerated further at the weekend. OPEC+ plans to return about 1.5 million barrels a day to ... (full story)