Oil Tops $71 As OPEC+ Keeps Output Plans Unchanged

Oil prices rallied ahead of and during the monthly meeting of OPEC+ early on Tuesday after the alliance’s Joint Ministerial Monitoring Committee (JMMC) signaled there would be no changes in the plans to boost July oil production by 840,000 barrels per day (bpd). As of 9:05 a.m. EDT on Tuesday, WTI Crude was up by 3.36 percent at $68.61, and Brent Crude was trading above $71 per barrel after breaching the $70 mark earlier today. Brent was up 2.55 percent at $71.14. The meeting of the JMMC also signaled that OPEC and OPEC+ see the global oil…