23 days ago • Posted by Djellza Kolloni

Brent Crude rebounds to start September, OPEC+ eyed

Brent oil futures rose more than 0.5% to almost $72 a barrel on Wednesday, bouncing back from a 0.8% drop the day before as investors awaited the outcome of the OPEC+ meeting and assessed the damage caused by Hurricane Ida, which shut down refineries along the US Gulf Coast. Despite calls from the US for grater output and OPEC's own data suggesting the market will be in deficit until the end of 2021, the cartel is poised to stick to its strategy of adding 400,000 bpd per month through December. Source: TradingEconomics