Oil prices rise on slow OPEC oil output increase

Oil prices rose on Tuesday as key producer group OPEC undershot its expected pace of output increases last month, while the world's top oil consumer China ramped up operating rates to meet a spike in diesel demand. Brent crude futures gained 28 cents, or 0.3%, to $84.99 a barrel by 0117 GMT while U.S. West Texas Intermediate (WTI) crude futures rose by 19 cents, or 0.2%, to $84.24 a barrel.

from Markets-Economic Times https://ift.tt/3CCgaH9