Oil steadies; OPEC+ sticks to gradual output hikes | Reuters
Oil prices steadied on Wednesday after OPEC and its allies agreed to stick to their existing policy of gradual oil output increases.
Brent crude fell 4 cents to settle at $71.59 a barrel. U.S. West Texas Intermediate (WTI) crude rose 9 cents to settle at $68.59 a barrel.
Brent had plumbed a session low of $70.42 a barrel, while WTI fell as low as $67.12 a barrel.
The Organization of the Petroleum Exporting Countries and allies led by Russia, a group known as OPEC+, agreed to stick to a policy from July of phasing out record output cuts by adding 400,000 barrels per day (bpd) a month to the market.
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