NEW YORK, July 2 (Xinhua) -- Oil prices settled mixed on Friday as traders eyed a key meeting from major oil-producing countries.
The West Texas Intermediate for August delivery lost 7 cents to settle at 75.16 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for September delivery increased 33 cents to close at 76.17 dollars a barrel on the London ICE Futures Exchange.
The Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, resumed talks on Friday, a day after failing to reach agreement on production quotas from August onwards. Traders cautiously awaited the outcome of the meeting.
The oil alliance made deep output cuts last year as the pandemic hurt global fuel demand and is restoring production as economic recovery continues in most parts of the world.
For the week, the U.S. crude benchmark rose 1.5 percent, while Brent climbed 1 percent. Enditem
