SINGAPORE: Middle East crude benchmark Dubai rose on Thursday ahead of a meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, where they will discuss whether to keep in place curbs on output.
OPEC+ has lowered its 2021 oil demand growth forecast by 300,000 barrels per day, reflecting concerns about the market's recovery as new coronavirus lockdowns take hold, a move that could strengthen the case for a cautious output decision this week.
Cash Dubai, as quoted by price-reporting agency S&P Global Platts, rose in March to an average of $64.414 a barrel, the highest monthly average level since December 2019.
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