OPEC Supply Increase More Unlikely


The oil markets were conflicted with US crude oil firmer on doubts whether OPEC would increase supply at the next meeting.

Global benchmark Brent crude LCOc1 lost 7 cents at $76.39 a barrel by 12:47 p.m. (1647 GMT). U.S. light crude CLc1 rose 33 cents to $66.07.

OPEC is due to meet on June 22-23 in Vienna and decide then how to proceed with its production. Top oil exporter Saudi Arabia has told OPEC that it raised oil output to a little more than 10 million barrels per day (bpd) in May, but still within target.

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