Key Points
HOUSTON (Reuters) -Brent and U.S. crude futures climbed more than 2.5%, gaining $2 a barrel on Monday, as further supply cuts in OPEC+ production are expected in the coming weeks...
Both contracts settled 4% higher on Friday after three OPEC+ sources told Reuters that the producer group, comprising the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, is set to consider whether to make additional supply cuts when it meets on Nov. 26...
In light of last weeks obliteration of oil bulls, some kind of response was forthcoming from the (OPEC) producer group, said Tamas Varga of oil broker PVM...
The number of oil and gas rigs operated by U.S. companies rose last week, the first gain in three weeks, energy services business Baker Hughes said on Friday..
Meanwhile, U.S. oil refiners are on course to boost production by 559,000 barrels per day (bpd) this week as they come out of fall planned maintenance leaving just 264,000 bpd of capacity offline, research company IIR Energy said on Monday.. In the Middle East, U.S. and Israeli officials said a deal to free some of the hostages held in the besieged Gaza enclave was edging closer despite fierce fighting...
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