Oil Prices Highest in Two Months, Driven by Upcomign Producer Meeting, Sanctions over Maduro

Both crude oil benchmarks settled above US$ 50/bbl, amidst optimism over OPEC/non-OPEC meeting next week. Threat of US sanctions against Venezuela added to hopes of tightening supply. Gains were limited as a Reuters report showed that OPEC June production was revised higher by +0.2M bpd in June.

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Oil Prices Highest in Two Months, Driven by Upcomign Producer Meeting, Sanctions over Maduro