Oil prices rebound, edge up ahead of next week's OPEC meeting | Reuters
U.S. crude prices settled higher on Friday, turning positive after an early decline, supported by expectations that the Organization of the Petroleum Exporting Countries, Russia and their allies, known as OPEC+, would maintain production cuts.
However, Brent and U.S. crude oil benchmarks both declined on the week after reaching multi-year highs on Monday.
Brent crude rose 6 cents to settle at $84.38, while U.S. West Texas Intermediate crude rose 76 cents, or 0.9%, to $83.57.
"While more Iranian supply may come online, it looks like OPEC+ is unlikely to raise production which is giving strength to the market today," said John Kilduff, partner at Again Capital LLC in New York.
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