Oil Drops in Choppy Trade as OPEC+ Signals Faster Output Hikes

Oil slipped in a choppy day of trading as OPEC+ considers boosting the pace of future output hikes. West Texas Intermediate fell 1.7% to settle near $62 a barrel. The OPEC+ alliance meets on Sunday and is considering stepping up supply increases. The group will discuss potentially lifting output by 500,000 barrels a day per month over a three-month period, a delegate said. Most Read from Bloomberg OPEC+ would be adding barrels to a market that major forecasters say doesn’t need them. The International ...