1000 ET - Oil futures are higher with support from a handful of small positives from continued dollar weakness, more U.S. sanctions against buyers of Iranian oil and optimism over trade talks, to updated output compensation plans from OPEC+ overproducers. "As prices fluctuate and demand weakens, OPEC+ remains in control with flexibility to cut production if needed," Janiv Shah of Rystad Energy says in a note. OPEC+ could slow or reverse its production increases, "and will not allow prolonged price drops without taking action," he adds. WTI is up 1.1% at $63.17 a barrel, and Brent is 1.1% higher at $66.59 a barrel. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
April 17, 2025 10:00 ET (14:00 GMT)
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