The Traderszone Network

Published in TZ Latest News 2 June, 2015 by The TZ Newswire Staff

Oil up ahead of OPEC meeting as dollar slips

Oil prices rose on Tuesday as the dollar weakened and on expectations that OPEC producers would maintain their group production target at its current level and resist pressure for an increase. Brent crude oil for July was up 70 cents at $65.58 (43 pounds) a barrel by 0900 GMT (10:00 a.m.). Ministers from the Organization of the Petroleum Exporting Countries (OPEC), responsible for more than a third of the world’s oil output, meet in Vienna on Friday to decide on production policy for the next six months.