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Oil prices rose on Wednesday on demand hopes and lower U.S. crude stockpiles, with Brent near $75.39 and WTI near $74.07. OPEC+ was slated to meet Thursday to decide on output levels, with Saudi Arabia favoring a gradual increase and Russia favoring a faster one.
Expectations of a measured OPEC+ output increase amid recovering demand keep crude near multi-year highs, supporting energy and transport costs.
db.forbesmiddleeast.comNirupam Banerjee, Kishore KumarJun 30, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
