Oil Prices Mixed; Looming OPEC+ Production Increase May Weigh
0031 GMT — Oil prices are mixed in the early Asian session, but may be weighed by looming OPEC+ production increase. OPEC+ has announced that it would gradually reduce its voluntary production cuts from this week, Commerzbank Research analysts say in a recent research report. This 'de facto' increase in oil supply will probably take center stage this week and weigh on oil prices, even though there have been worries over future supply shortage, the analysts add. Front-month WTI crude oil futures are down 0.3% at $69.13/bbl; front-month Brent crude oil futures are up 0.1% at $73.71/bbl. (ronnie.harui@wsj.com)
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