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Oil Set For Weekly Loss on OPEC+ Supply Rumors ...Middle East
Crude oil prices were about to end the week with another loss following a report that OPEC+ may be considering another larger than initially planned output boost in June. A renewed hope for peace in the Ukraine contributed to the bearish mood among traders. Benchmarks were both up at the time of writing, with Brent crude at $66.98 per barrel and West Texas Intermediate at $63.21 per barrel. The weekly trend is downward but it will be a slim decline. Earlier this week, Reuters reported OPEC+ could add more barrels to production after its June meeting…
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