6/18, 5:36 PM (Source: TeleTrader)
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Oil trades higher ahead of OPEC+ news

Oil prices were higher on Thursday as the Organization of the Petroleum Exporting Countries (OPEC) and its allies held a Joint Ministerial Monitoring Committee meeting to discuss members' oil output compliance.

In its latest monthly report on the global oil market, OPEC left unchanged its forecast that the world’s demand for crude will fall by 9.1 million barrels a day in 2020.

August Brent crude climbed 1.33% to $41.23 per barrel at 11:20 am ET. At the same time, West Texas Intermediate crude for July delivery jumped 1.16% to $38.49 per barrel.

Breaking the News / JC