Brent crude futures rose 13 cents, or 0.18% to $74.41 a barrel by 0115 GMT, while U.S. West Texas Intermediate crude rose 15 cents, or 0.21%, to $70.25 a barrel, following two consecutive days of sliding crude prices.by the Federal Reserve as well as the House of Representatives' passage of a bill suspending the U.S. government debt ceiling, likely staving off a calamitous sovereign default.
Investor attention is now fixed on the upcoming June 4 meeting of the Organization of the Petroleum Exporting Countries and allies including Russia, collectively called OPEC+. Further reductions in OPEC+ output following their surprise cut of 1.16 million barrels per day in April would be bullish for crude prices., with Reuters reporting and analysts from banks including HSBC and Goldman Sachs indicating that further outputs cuts are unlikely and that the bloc would adopt a "wait and see" approach.
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