Oil Holds Near Three-Month Low With OPEC+, US Demand in Focus
Posted on AllSides May 26th, 2024
From The Left
Oil steadied after a weekly loss, with the focus on an OPEC+ supply meeting on Sunday and US demand at the start of the summer driving season.
Brent futures held above $82 a barrel after dropping 2.2% last week and touching the lowest since early February, while West Texas Intermediate was near $78. The Organization of the Petroleum Exporting Countries and its allies will hold its policy meeting online, and is widely expected to prolong production cuts into the second half of 2024.
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