Oil Updates — prices little changed after OPEC+ proceeds with September output hike

SINGAPORE: Oil prices edged higher on Monday, paring earlier losses, as traders expect the market to absorb another large output hike by OPEC+ in September, while worries about disruptions to Russian oil shipments to major importer India also provided support. Brent crude futures climbed 11 cents, or 0.16 percent, to $69.78 a barrel by 8:47 a.m. Saudi time, and US West Texas Intermediate crude was at $67.52 a barrel, up 19 cents, or 0.28 percent. Both contracts closed about $2 a barrel lower on Friday.

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