Oil was steady after OPEC+’s decision to push back the revival of shuttered production by another three months failed to lift sentiment in a market that’s expected to suffer from a glut next year.
West Texas Intermediate traded above $68 a barrel after closing 0.4% lower on Thursday. Brent settled near $72. OPEC and its allies delayed increasing supplies for a third time, opting to start with a modest increase in April, and then unwind the cuts over 18 months, a slower pace than previously planned.
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