KONTAN.CO.ID - HOUSTON. Oil held steady Thursday, on track for a third weekly gain as markets weighed further production cuts targeted by OPEC+ and a drop in U.S. oil inventories against fears about the global economic outlook. Brent crude fell 6 cents, or 0.07%, to $84.93 a barrel by 11:32 a.m. ET (1532 GMT). West Texas Intermediate U.S. crude dipped 12 cents, or 0.1%, to $80.49. There is no trading on Friday because of the Good Friday holiday. Brent and U.S. crude both jumped more than 6% this week after OPEC+, the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, surprised the market on Sunday with a pledge of production cuts.
Oil Steady, Heads for Third Weekly Gain After Shock OPEC+ Output Cuts
KONTAN.CO.ID - HOUSTON. Oil held steady Thursday, on track for a third weekly gain as markets weighed further production cuts targeted by OPEC+ and a drop in U.S. oil inventories against fears about the global economic outlook. Brent crude fell 6 cents, or 0.07%, to $84.93 a barrel by 11:32 a.m. ET (1532 GMT). West Texas Intermediate U.S. crude dipped 12 cents, or 0.1%, to $80.49. There is no trading on Friday because of the Good Friday holiday. Brent and U.S. crude both jumped more than 6% this week after OPEC+, the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, surprised the market on Sunday with a pledge of production cuts.