Oil Prices Take a Breather, OPEC+ Sticks to Output Plans

Oil Prices Take a Breather, OPEC+ Sticks to Output Plans
A 3D printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture on April 14, 2020. Dado Ruvic/Illustration/Reuters
Reuters
Updated:

LONDON—Oil prices eased on Thursday following weak U.S. payrolls data and some profit-taking, but remained underpinned by tight supply as OPEC+ producers stuck to planned moderate output increases.

Brent crude fell 61 cents, or 0.7 percent, to $88.86 a barrel by 0915 GMT, after rising 31 cents on Wednesday. U.S. West Texas Intermediate crude was down 69 cents, or 0.8 percent, at $87.57 a barrel, having gained 6 cents the previous day.