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Oil rises slightly ahead of OPEC+ meeting
Wednesday, 15 July 2020 02:09 WIB | ENERGY |Minyak WTIMinyak MentahMinyak Brent

Oil prices rose slightly on Tuesday as OPEC and its allies cut production by more than agreed to in June, although demand concerns lingered due to increased cases of COVID-19 in the United States.

Brent crude futures gained 18 cents, or 0.42%, to settle at $42.90 per barrel, after moving lower earlier in the session. West Texas Intermediate crude futures settled 19 cents, or 0.47%, higher at $40.29 per barrel.

The Organization of the Petroleum Exporting Countries and its allies led by Russia, collectively known as OPEC+, have delivered compliance of 107% with their agreed oil output cuts in June, an OPEC+ source said on Tuesday.

Source : Reuters

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