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July 14, 2020, 2:42 p.m. EDT

Oil futures finish slightly higher, as traders await outcome of OPEC+ committee meeting

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By Myra P. Saefong

Oil futures finished slightly higher on Tuesday, with traders awaiting outcome of Wednesday's OPEC+ Joint Ministerial Monitoring Committee meeting as well as this week's updates on U.S. petroleum supplies. Some analysts said the committee meeting may result in a recommendation to taper the size of current crude production cuts of 9.7 million barrels per day. Meanwhile, a report from Energy Information Administration due Wednesday morning is forecast to show a weekly decline of 2.1 million barrels in U.S. crude supplies, according to an S&P Global Platts survey of analysts. August West Texas Intermediate oil rose 19 cents, or 0.5%, to settle at $40.29 a barrel on the New York Mercantile Exchange.

Read the full story:
Oil end higher as traders weigh uncertainty over next move for OPEC+

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