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Oil broadly stable as Opec+ raises output

From khaleejtimes.com

Oil prices were broadly stable on Wednesday as the Opec+ producer group said it would raise its oil output target by only 100,000 barrels per day (bpd), dashing US hopes of a meaningful supply boost. Weighing on prices, meanwhile, top Iranian and US officials said they were travelling to Vienna to resume indirect talks about Iran’s nuclear programme, reviving the all but vanished hopes of a removal of sanctions hampering Iranian oil exports. Brent crude futures were down 14 cents cents, or 0.1 per cent, at $100.40 a barrel by 1337GMT. West Texas Intermediate (WTI) crude futures slipped by 31 cents, or 0.3 per cent, ... (full story)

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  • Category: Fundamental Analysis