COM - Crude oil rallies as OPEC+ panel says stick with planned production increase

U.S. crude oil climbs to its highest since 2014 after an OPEC+ panel recommended that the group stick to its existing policy of increasing production by 400K bbl/day next month. November WTI (CL1:COM) +2.9% to $78.07/bbl, with front-month prices on track for their best finish since November 2014, while December Brent crude (CO1:COM) +2.7% to $81.41/bbl for its highest since October 2018. ETFs: USO, XOP, VDE, OIH Energy stocks (XLE +1.2%) are generally higher, with four of the top five early gainers on the S&P 500 in the oil and gas sector: DVN +3.9%, CTRA +3.3%, HAL +3%, ES +2.9%. Front-month WTI crude rose 2.6% last week and has soared 266% over the past six quarters.

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Crude oil rallies as OPEC+ panel says stick with planned production increase