Oil Holds Gain Near $73 as Market Waits for OPEC+ Output Meeting

Bloomberg Quint | Jul 1, 2021 at 7:30 AM
  • Oil rose toward $74 a barrel as the market waited for a meeting later on Thursday at which OPEC+ will decide on production levels.
  • Although the group is expected to return some barrels in August, nervousness over the delta virus variant may limit the boost.
  • The OPEC+ alliance will return 550,000 barrels of day of production — roughly 10% of idled output — in August.