Oil up on OPEC+ promises, US slowdown
Multinational Larsen and Toubro India
The American Petroleum Institute is due to release its weekly report for the week ended March 15 at 4:30PM ET (20:30 GMT), amid expectations of a decline of about 0.7 million barrels.
US West Texas Intermediate crude futures were up 24 cents, or around 0.4%, at $59.62 a barrel, its best level since November 12.
Meanwhile, international Brent crude oil futures tacked on 38 cents, or 0.5%, to $67.92 per barrel, within distance of a four-month peak of $68.14 marked late last week.
With two weeks to the end of the first quarter, WTI is up 31% on the year and Brent 26%, with both benchmarks benefiting extensively from aggressive production cuts carried out by <a href=’https://staging.theenergyyear.com/companies-institutions/opec/’>OPEC since the start of January.
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