(Bloomberg) — Oil advanced ahead of this week’s meeting of the OPEC+ producer bloc, following recent signals that supply and demand are returning to balance.Futures in New York were up 0.7%, after dipping 0.5% on Friday. The U.S. benchmark has rallied more 4% in the past two weeks, with American crude stockpiles declining after imports from Saudi Arabia dropped and gasoline consumption rose. Adding to support, some data points show bright spots in the economic outlook, with U.S. industrial production increasing for a third straight month in July.Oil retreated on Friday after the U.S. and China postponed talks planned for …read more
Source:: Yahoo Finance
