Oil firms on drop in US crude stocks, market awaits OPEC/Russia supply decision

Oil firms on drop in US crude stocks, market awaits OPEC/Russia supply decision

Analysts still expect some form of supply reduction to be decided. US oil prices stabilised on Friday, buoyed by a fall in U.S. crude oil inventories, but sentiment remained weak as producer group OPEC postponed a final decision on output cuts, awaiting support from non-OPEC heavyweight Russia. U.S. West Texas Intermediate (WTI) crude futures were at $51.61 per barrel at 0037 GMT, 12 cents above their last close.

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The Indian Express

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