Oil prices declined on Friday. The U.S. dollar’s strength impacted the market. OPEC+ considered increasing crude oil output. This possibility further pressured prices. A previous report indicated potential accelerated oil hikes by OPEC+. U.S. crude oil storage saw a surge. The market will monitor U.S. oil and gas rig count data. This data serves as a future supply indicator.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets