Oil Holds Over $71 a Barrel
Crude Jumps $3 on Eve of OPEC Meeting
Oil held above $71 a barrel early Wednesday after jumping more than $3 on the eve of an OPEC meeting at which the cartel was expected to maintain existing output levels, Bloomberg reported.
OPEC ministers will meet Wednesday in Vienna, Austria, at which the 12-member group is expected to keep its output target unchanged at just under 25 million barrels a day, Bloomberg reported.
Oil was trading as high as $71.84 in early trading Wednesday after closing every day last week below $70 for the first time since late July.
Crude futures jumped $3.08 Tuesday to close at $71.10 a barrel.
