The Organization of the Petroleum Exporting Countries and its allies including Russia, known as OPEC+, have restrained supply for more than a year since demand crashed during the coronavirus pandemic.
Oil prices had briefly spiked Tuesday before falling after the latest talks by OPEC+ crude producers fell apart, ending negotiations on a proposal to boost crude supply
The Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+, agreed on record output cuts in 2020 to cope with a COVID-induced price crash.
U.S. crude stockpiles fell last week for the sixth straight week as refiners ramped up output in response to rising demand, the Energy Information Administration said.
The Conference Board's monthly report showed Americans increasingly upbeat about the economy and their job prospects, putting aside worries over rising prices