Oil prices stabilize as markets await OPEC+ decision on production extension.
Oil prices stabilize as markets await OPEC+ decision on production, with the Brent crude July contract rising 18 cents to $82.30 a barrel and the more active August contract increasing by 25 cents to $82.09. An OPEC+ meeting is scheduled for June 2, where producers are likely to discuss extending voluntary output cuts of 2.2 million barrels per day into the second half of the year. Public holidays in the US and UK are expected to keep trading relatively thin.
May 27, 2024
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