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Oil steady as Canadian wildfires offset OPEC+ supply rise
Nada Ali Published in Amwal Al Ghad on 04 - 06 - 2025

Oil prices held steady on Wednesday as supply disruptions in Canada due to wildfires helped offset pressure from planned output increases by OPEC+ and concerns over global trade tensions.
Brent crude futures edged up 7 cents, or 0.1 per cent, to $65.70 a barrel by 1034 GMT. US West Texas Intermediate (WTI) crude rose 3 cents to $63.44.
Janiv Shah, vice president of oil commodity markets analysis at Rystad Energy, stated that the market was being affected by OPEC+ producers' plans to raise output by 411,000 barrels per day (bpd) in July.
Attribution: Reuters
Subediting: Y.Yasser

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