Oil producers are unlikely to alter their output strategy as crude prices climbs
Brent crude increased to $89 per barrel on Tuesday from $77 at the end of 2023.
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oil trade
Oil rises 1% to a five-month high due to forecasts of increased demand
By 12:12 PM EDT (1612 GMT), U.S. West Texas Intermediate (WTI) crude climbed $1.04, or 1.3%, to $84.21, while Brent futures gained 73 cents, or 0.8%, to $87.73 a barrel.
OPEC+ to back Brent at $80 per barrel; ONGC scored highly on dividend payments
The state-owned Oil India and Oil and Natural Gas Corporation (ONGC) are the most likely Indian oil explorers to see success, with the Organization of Petroleum Exporting Countries and its allies (OPEC+) supporting Brent…