Loading…
Oil futures reversed early losses on Friday after OPEC sources said the group expected limited U.S. output growth this year despite higher prices. Brent rose to $73.47 and WTI settled at $71.64 after both benchmarks hit multi-year highs earlier in the week.
OPEC's view that U.S. shale growth will be limited supports the group's ability to hold prices up, keeping crude and energy input costs elevated until a possible 2022 shale rebound.
cnbc.comReutersJun 18, 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.
