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U.S. crude oil gains more than 2% as market looks to OPEC+ meeting on production levels - TL;DR CNBC

U.S. crude oil gains more than 2% as market looks to OPEC+ meeting on production levels

Publishing timestamp: 2024-05-28 13:24:54


Summary

OPEC+ will hold a virtual meeting on Sunday to review its production policy. Market analysts expect them to maintain current production levels. U.S. crude oil gained over 2% on Tuesday ahead of the meeting. Deutsche Bank predicts Brent prices to stay around $80 per barrel. Pressure may grow on OPEC+ to raise output after June meeting. Saudi Arabia understands the need to balance oil prices. Goldman recommends buying call options in stocks benefiting from AI-driven energy demand surge. Wells Fargo is bullish on dividend payers. Goldman is also positive on nuclear power and uranium. Analysts predict a 140% rally in a global stock due to hydrogen fuel boom.


Sentiment: NEUTRAL

Tickers: @CL.1@LCO.1@NG.1%40RB.1?QSEARCHTERM=%40RB

Keywords: wti crude (mar'23)investment strategymarketsbusiness newsice brent crude (apr'23)breaking news: marketsoil and gasnatural gas (mar'23)

Source: https://www.cnbc.com/2024/05/28/crude-oil-prices-today.html


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