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After falling $ 0.94 or 2.4 percent in the last three days, crude for July delivery climbed $ 0.34 or 0.6 percent to $ 61.54 per barrel.
Despite the day’s increase, crude oil fell by 1.5 percent for the week after being higher for two straight weeks.
There was a weekly decline amid concerns about the approach to supply between another growth report by OPEC+ output for July.
A report by Bloomberg states that OPEC+ members are discussing the increase in third consecutive oil production in July.
Citing OPEC+ representatives, Bloomberg said that an output increase of 411,000 barrels in a day for July – initially the amount planned is one of the options under triple – discussion.
Bloomberg mentioned that no final agreement has been signed yet, with a final decision to be held on 1 June at the group meeting.
Meanwhile, after President Donald Trump threatened to put a 50 percent tariff on imports from the European Union starting on 1 June, the rebound came in the day despite new business concerns.
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