Oil added more than 2% as OPEC+ might keep outputs unchanged in September
Oil added more than 2% as OPEC+ might keep outputs unchanged in September
International benchmarks for crude oil rose more than 2% on Friday, 29 July 2022 on the expectations that OPEC+ might keep production outputs unchanged in September. However, the gains were capped after reports that the US added 11 more rigs in July, marking the 23rd straight month of rising rig count, signalling that more supply is coming.
Brent contract for September delivery concluded with $2.87 gained or 2.7% to $103.97/barrel.
WTI rose $2.20 or 2.3% to close at $98.62/barrel.