Brent Holds Gain as OPEC Leaves Quota Unchanged
This article is for subscribers only.
Brent crude held its gain after OPEC kept its production target unchanged and West Texas Intermediate was little changed in New York amid speculation that U.S. inventories dropped last week.
Futures rose 0.3 percent in London as OPEC ministers in Vienna left the group’s output ceiling unchanged at 30 million barrels a day. Crude stockpiles probably dropped by 2 million barrels last week to 387.5 million, a Bloomberg News survey shows before Energy Information Administration data today. In Iraq, a breakaway al-Qaeda group took control of the city of Mosul and there were conflicting reports about the situation in Baiji, home to the nation’s biggest refinery.