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Business > Foreign Business
Major oil producers to keep output cuts
By Reuters
May 30, 2024 12:32 am

OIL prices rose on Wednesday on expectations major producers will maintain production cuts at a meeting on June 2, 2024 at the same time fuel consumption should begin rising with the start of the peak summer demand season.

Brent crude futures for July delivery rose 27 cents, or 0.3 percent, to $84.49 a barrel at 0042 GMT (8 a.m. in Manila). US West Texas Intermediate futures for July climbed 35 cents, or 0.4 percent, to $80.18.

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