LONDON—Oil benchmark Brent hovered above $87 a barrel as crude prices looked set to set to snap a two-week losing streak on Friday, bouyed by expectations of tightening supplies.
Saudi Arabia is widely expected to extend a voluntary 1 million barrel per day (bpd) oil production cut into October, prolonging supply curbs engineered by the Organization of the Petroleum Exporting Countries (OPEC) and allies, known collectively as OPEC+, to support prices.
