Oil exceeds US$67 as demand outweighs prospect of more OPEC+ oil The Edge Singapore


Source: theedgesingapore.com theedgesingapore.com

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Oil advanced ahead of an OPEC+ policy meeting as traders expect rising demand to absorb a planned production increase from the group as well as any additional crude from Iran. Futures in New York climbed past US$67 a barrel, putting crude on track for a second straight monthly gain. OPEC and its allies are expected to stick with a decision to boost output in July when the group gathers Tuesday, according to a Bloomberg survey last week. While rebounding demand is driving prices higher, the possibility of more barrels from Iran should a nuclear deal be revived is clouding the...