OPEC+ is set to meet today to discuss planned Oil output increases. This 23-country supercartel has had an outsize effect on global petroleum prices as their production coordination responded to COVID-19.
Oil dropped after the U.S. asked some of the biggest Oil-consuming countries to join it by tapping into stockpiles to manage global energy prices, according to people familiar with the matter.
U.S. indices traded at record highs on Tuesday. The $1 trillion infrastructure bill passed by the Senate and a rebound in Oil prices may have been responsible for the rise.
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