Oil Advances With OPEC+ Meeting and US Fuel Demand in Focus
- OPEC+ expected to prolong cuts at meeting to be held online
- Brent above $83 a barrel after touching lowest since February
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Oil rose after dropping last week, with the focus on an OPEC+ supply meeting on Sunday and US demand at the start of the summer driving season.
Brent futures rose above $83 a barrel after dropping 2.2% last week and touching the lowest since early February. West Texas Intermediate advanced above $78. The Organization of the Petroleum Exporting Countries and its allies will hold a policy meeting online, and are widely expected to prolong production cuts into the second half of 2024.