Business

Oil prices take a breather as OPEC+ sticks to output plans

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Reuters

By Roslan Khasawneh SINGAPORE (Reuters) – Oil prices eased on Thursday following weak U.S. payrolls data and some profit taking, but remained underpinned by tight supply as OPEC+ producers stuck to planned moderate output increases. Brent crude fell 37 cents, or 0.4%, to $89.10 a barrel by 0127 GMT, after rising 31 cents on Wednesday. U.S. West Texas Intermediate crude was down 54 cents, or 0.6%, at $87.72 a barrel, having gained 6 cents the previous day. “This morning’s dip might be a result of the shockingly low U.S. ADP employment print last night, but we believe the supply squeeze may driv…

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